The Inflation Reduction Act (IRA)’s $2,000 Part D spending cap, which took effect on 1 January, is projected to help more than 11 million Medicare beneficiaries save $7bn on prescription drugs, according to a report from the Health and Human Services Department’s Office of the Assistant Secretary for Planning and Evaluation (ASPE).
Medicare Part D Spending Cap Will Save Seniors $7bn in 2025, HHS Data Suggests
An ASPE report on Part D savings released before the Trump Administration took office indicated the new $2,000 spending cap could save some beneficiaries thousands of dollars per year.
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