Biden's Drug Cost Cap to Save Seniors Over $1,000 Annually
New Medicare Part D provision under the Inflation Reduction Act will limit out-of-pocket expenses starting in 2025.
- More than 1 million seniors will benefit from the $2,000 annual cap on prescription drug costs.
- The cap is expected to lower costs for over 3 million Medicare Part D beneficiaries by 2025.
- Savings will be most significant for those using high-priced, branded medications.
- By 2029, the cap will help 4.1 million seniors, with some saving over $3,000 annually.
- The initiative aims to provide financial relief and improve healthcare affordability for older Americans.
The Hill 
Denver Gazette 