New $2,000 Cap on Prescription Drugs: A Game-Changer for Medicare Cancer Patients
2024-12-25
NBC News
In a significant move to reduce healthcare costs, the Inflation Reduction Act introduces a $2,000 annual cap on out-of-pocket prescription drug expenses for Medicare recipients, effective January 1. This change is expected to bring substantial financial relief to older adults, particularly cancer patients, who often face exorbitant medication costs. With this new cap, Medicare beneficiaries can enjoy more affordable access to essential medications, improving their overall quality of life. The move is part of a broader effort to make healthcare more affordable and accessible, including prescription drug reform and cost savings measures.