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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 beneficiaries.

which are covered through Medicare Part D. Prior to the passage of the Inflation Reduction Act, there was no limit on out-of-pocket drug costs for Medicare enrollees.

The Centers for Medicare & Medicaid Services (CMS) announced last week that the coinsurance costs for 64 drugs available through Medicare Part B will be reduced between January 1, 2025 ...

A new $2,000 cap on out-of-pocket prescription drug costs for Medicare Part D beneficiaries starts in 2025, potentially saving seniors hundreds of dollars annually.