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Medicare's $2,000 prescription drug cap expected to bring major relief to cancer patients (www.nbcnews.com)

submitted 2 days ago by MicroWave@lemmy.world to c/health@lemmy.world

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Summary

Starting Jan. 1, Medicare will cap annual out-of-pocket prescription drug costs at $2,000, as mandated by the Inflation Reduction Act.

This cap, applying to Medicare Part D drugs, is expected to provide significant relief to millions, especially cancer patients, who often face unaffordable medication costs.

Previously, patients could spend over $7,000 annually before catastrophic coverage. Around 3.2 million enrollees are projected to save by 2025, with many seeing savings over $1,000.

While some argue $2,000 remains high, advocates see this as a critical step in easing financial burdens for retirees on fixed incomes.

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[–] Rhaedas@fedia.io 19 points 2 days ago

I don't care about taking credit, I'd be more worried about reversing it like so many other things he's got planned. Maybe if someone can convince him to outdo Biden and half it to $1000.