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Millions of Medicare enrollees are likely to see relief in 2025 when a $2,000 cap on out-of-pocket prescription drug-spending goes ... to reach us. Sign in. ... gap ends on Dec. 31, 2024," its ...
The 15 drugs accounted for $41 billion, or 14%, of total Medicare Part D spending between Nov. 1, 2023, and Oct. 1, 2024.
The law introduced the cap gradually, starting with a cap of $3,250 on out-of-pocket spending on prescription drugs in 2024. More than 65 million people, mainly older adults, are enrolled in Medicare.
Prescription drug list prices in the United States continually are among the highest in the world. [1] [2] The high cost of prescription drugs became a major topic of discussion in the 21st century, leading up to the American health care reform debate of 2009, and received renewed attention in 2015.
A key cost-saving provision of the Inflation Reduction Act (IRA) goes into effect in the new year, limiting annual out-of-pocket spending on prescription drugs to $2,000 for Medicare beneficiaries.
About 53 million Americans were enrolled in a Medicare prescription drug plan in 2024. Enrollees who take the priciest drugs will get some relief this year with a $2,000 cap on drug costs.
Proposition 34, titled Restricts Spending of Prescription Drug Revenues By Certain Health Care Providers, was a California ballot proposition and initiative statute in the 2024 general election on November 5.
About 5.3 million people with Medicare prescription drug coverage used these medications from November 2023 through October 2024 at a cost of $41 billion to the government-funded health program ...