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.

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.

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

Senior citizen enrolled in Medicare Part D prescription coverage will now have out-of-pocket drug costs capped at $2,000 a year.The new benefit that went into e

The $2,000 annual cap on out-of-pocket costs for drugs from the pharmacy or through mail order went into effect on Jan. 1. An interim ceiling of about $3,500 was in place for 2024. The limit is one of the 2022 Inflation Reduction Act’s provisions to lower prescription drug prices for Medicare enrollees.