Medicare will impose $2,000 cap on prescription costs in 2025

Starting in January, Medicare will implement a $2000 prescription drug cap as part of the Inflation Reduction Act. This cap is expected to significantly benefit patients using expensive medications for conditions like cancer. The AARP projects that 3.2 million Americans will experience savings by 2025. The cap applies to Part D plans and includes programs like Extra Help. Additionally, insulin will be capped at $35 per month for prescriptions.

What types of plans does the $2000 prescription drug cap apply to?

What will be the monthly cost of insulin under the new cap?