For 3.3 million Medicare beneficiaries using insulin, copays will be limited to $35 per month. Learn more about this and other big Medicare savings under the Inflation Reduction Act.
Medicare beneficiaries are in for some big savings under the Inflation Reduction Act, which is ushering in a new era of negotiating drug prices and capping out-of-pocket expenses.
See: Biden has signed the Inflation Reduction Act. Here’s MarketWatch’s rundown of how it will affect your energy bills, investments and drug costs.Beginning in 2023, drug prices will be linked to the Consumer Price Index — the measurement for inflation — and drug companies that raise their prices faster than the rate of inflation will have to pay rebates.
Out-of-pocket costs for Medicare beneficiaries will be capped at $2,000 per year beginning in 2025 — a provision that may save some Americans thousands of dollars per year on healthcare.