📋 Millions May Get Life-Changing Relief With Medicare Cap (AARP Article)

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FROM THE ARTICLE - SEE ARTICLE FOR MORE!!!

More Than 3 Million Older Americans Will See Rx Savings With Out-of-Pocket Cap.

For the first time ever, Medicare drug plans will limit out-of-pocket spending. The historic change takes effect Jan. 1.

By Rachel Nania, AARP. Published August 28, 2024.

It's not unusual for Gordon Irwin to shell out $500 or more at the pharmacy counter when picking up his medications, which include prescriptions that help regulate his blood sugar and reduce complications from atrial fibrillation, or A-fib. He’s also no stranger to paying nearly $1,000 a month, though that tally can vary, for outpatient medications to help manage his wife’s multiple myeloma and other health conditions.

In 2023 alone, the Knoxville, Tennessee, couple spent more than $17,000 out of pocket on their prescription medications. The year before that, the figure was even higher, “because my wife’s cancer medicine cost about $400 a month less last year” than in 2022, says Irwin, 80, a retired educator.

https://www.aarp.org/health/medicare-insurance/info-2024/drug-costs-report.html