AARP reports that most Medicare patients reaching the new $2,000 out-of-pocket cap for prescription drugs will see substantial savings. This provision of the 2022 Inflation Reduction Act aims to curb high drug costs, particularly benefiting seniors struggling with expensive medications for cancer, rheumatoid arthritis, and other serious conditions. While premiums have increased in some cases, the savings from the out-of-pocket cap are projected to outweigh these costs.
Most Medicare patients who hit the new $2,000 cap on out-of-pocket spending for prescription drugs could see significant savings, according to a report from AARP.
Most Medicare patients who hit the new $2,000 cap on out-of-pocket spending for prescription drugs could see massive savings, despite changes in premiums, according to acould be a huge benefit to older adults in Medicare who struggle to afford high-cost drugs for cancer, rheumatoid arthritis and other serious conditions. Those seniors and other U.S. patientsThe limit went into effect at the beginning of this year.
She said critics have been trying to blame the law for those premium increases and higher costs for Medicare enrollees overall. But the report said the lower out-of-pocket costs for most patients who reach the $2,000 cap will more than offset higher premiums.
MEDICARE PRESCRIPTION DRUGS INFLATION REDUCTION ACT OUT-OF-POCKET COSTS SAVINGS
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