A new report from A-A-R-P Iowa predicts thousands of seniors on Medicare ‘Part D’ in the state will save money on their prescriptions, thanks to a cap on out-of-pocket expenses set to take effect next year.
The limit is part of the Inflation Reduction Act. The report says more than 27-thousand Iowans will see their annual out-of-pocket prescription drug costs capped at two-thousand dollars. A-A-R-P Iowa’s Advocacy Manager Paige Yontz says right now, some Iowa seniors are forced to use cost-coping strategies – like not filling a prescription or skipping doses – to save money…
The A-A-R-P report breaks down the number of seniors who will benefit from the cap by state, age, gender, and race between 2025 and 2029. Nationwide, the new cap is expected to mean three-point-two million people will see a reduction in prescription drug expenses.
Yontz says the cost of prescription medications is among the biggest concerns Iowa seniors face. She adds the cap will provide some cost certainty for a vulnerable segment of the population…
The cap on prescription drug costs takes effect on the first of next year.
(credit to Iowa News Service)
