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In happier news, President Joe Biden passed a law limiting out-of-pocket prescription drug costs to just $2,000 annually for Medicare recipients who are enrolled in Part D prescription drug plans.
The Inflation Reduction Act of 2022, which was signed into law by Biden, phases in a cap for out-of-pocket costs for Medicare beneficiaries and established a $35 per-month cap on insulin.
Medicare is big business, recently providing healthcare coverage to 68 million people. It changes a little or a lot every year, and millions have strong opinions about it, too: Before the 2024 ...
The Inflation Reduction Act, signed into law in 2022, greenlit significant changes to the Medicare program. These measures roll out over time, and the newest provision goes into effect next year.
Image source: Getty Images. 1. A $2,000 cap on prescription drug costs. One of the Biden Administration's biggest victories has been a new law that caps out-of-pocket prescription drug costs at ...
The Medicare Prescription Drug, Improvement, and Modernization Act, [1] also called the Medicare Modernization Act or MMA, is a federal law of the United States, enacted in 2003. [2] It produced the largest overhaul of Medicare in the public health program's 38-year history.
Medicare Access and CHIP Reauthorization Act of 2015 (MACRA), (H.R. 2, Pub. L. 114–10 (text)) commonly called the Permanent Doc Fix, is a United States statute. Revising the Balanced Budget Act of 1997 , the Bipartisan Act was the largest scale change to the American health care system following the Affordable Care Act in 2010.
Some major changes in 2025 include a new $2,000 out-of-pocket max under Part D, eliminating the plan’s “donut hole” coverage gap, and fewer Medicare Advantage plans.
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