Never before have Medicare-eligible individuals been under the pressure of marketers like they are...
Medicare Rx Costs May be Capped in the Future!
Wow, this really caught me off guard. But, did anyone see the new Inflation Reduction Act information regarding Medicare prescription drug costs? It seems there is a provision in the bill that would provide for a cap on Medicare Rx costs for beneficiaries. What I read indicated that prescription costs would be capped at $2,000 per year for Medicare beneficiaries. Now, I do not know the specifics of this possible change nor has there been a lot of detail about this provision. However, it could make a big difference to a lot of Medicare beneficiaries who are taking high-cost medications.
I was very surprised to see this. Medicare Rx costs have the potential to create more out-of-pocket costs than medical care for some Medicare beneficiaries. It all depends on what I refer to as the beneficiary's medication mix. The medication mix is the type and number of prescriptions an individual is taking. Two people may be taking five medications. One may take five generics and the other may take three generics and two brand-name medications. Their costs will be vastly different.
Hopefully, this will be activated in the near future. Although, with politics and medical costs, it may be a while before we see some real action. We can always hope for the best.