Millions of Medicare enrollees are likely to see relief in 2025 when a $2,000 cap on out-of-pocket prescription drug-spending goes into effect.

Medicare enrollees will now pay a maximum of $2,000 on out-of-pocket prescription drug costs annually as part of another provision of the Inflation Reduction Act. The limit applies to prescription drugs bought at pharmacies and through mail orders, which are covered through Medicare Part D.

Senior citizen enrolled in Medicare Part D prescription coverage will now have out-of-pocket drug costs capped at $2,000 a year.The new benefit that went into e

The $2,000 annual cap on out-of-pocket costs for drugs from the pharmacy or through mail order went into effect on Jan. 1. An interim ceiling of about $3,500 was in place for 2024. The limit is one of the 2022 Inflation Reduction Act’s provisions to lower prescription drug prices for Medicare enrollees.

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