Thu, 16 Jan 2025

Medicare's new $2,000 cap on out-of-pocket drug costs could save patients thousands, AARP says

The AARP report suggests the spending cap could be huge for Medicare enrollees who take costly drugs for cancer, rheumatoid arthritis, and other conditions.
- 62% of patients will save more than $1,000 - 12% will save over $5,000 - Only 6% are expected to have higher costs, with an additional average expense of $268 This saving comes despite changes in Part D premiums and does not account for the lower prices expected from drugs selected for Medicare negotiations, which will be implemented in 2026. The report states that these savings could be substantial for a population on fixed incomes, with a median income of around $36,000 per year.
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