Medicare recipients who take expensive prescriptions will get a break this year with a $2,000 cap on drug costs.

Millions of Medicare enrollees are likely to see relief in 2025 when a $2,000 cap on out-of-pocket prescription drug-spending goes into effect.

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

More than 70,000 seniors in Washington state will save hundreds or thousands of dollars each year thanks to the new annual cap on out-of-pocket prescription drug costs for folks on Medicare Part D, according to an announcement from the office of Sen.

The Biden administration’s justification of the first cycle of Medicare drug price negotiations is fueling curiosity and uncertainty about a process largely held behind closed doors, just as another round of talks begin in the coming weeks under a new administration.

Medicare enrollees will now pay a maximum of $2,000 on out-of-pocket prescription drug costs annually as part of another provision of the Inflation Reduction Act. The limit applies to prescription drugs bought at pharmacies and through mail orders, which are covered through Medicare Part D.

The year 2025 is going to be a year of medication savings for some Medicare recipients thanks to the 2022 Inflation Reduction Act. For those who receive Medicare, a newly enacted out-of-pocket cap will limit prescription costs to $2,000 a year for Part D medication plans.

Seniors on Medicare Part D will never pay more than $2,000 out-of-pocket for prescription drugs annually, thanks to a provision in the 2022 Inflation Reduction Act which takes effect this year.

So here’s the solution. Just mandate, going forward, that all employer-sponsored plans pay providers the same, or close to the same, prices Medicare does. And further mandate that employers share the enormous resulting savings with their workers.