Medicare Drug Price Cap
This is a news story, published by NBC News, that relates primarily to Medicare news.
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•Medicare’s $2,000 prescription drug cap expected to bring major relief to cancer patients
81% Informative
New price cap on out-of-pocket payments on prescription drugs goes into effect on Jan. 1 .
Experts say the change is expected to provide major relief for cancer patients.
The new price cap will apply to all prescription drugs under Medicare Part D; it won’t apply to drugs given to patients in the hospital or other health care settings.
In the nearly 20 years since Medicare Part D was introduced, there has never been an annual cap on out-of-pocket costs.
Many people on Medicare are retired and live on fixed incomes, an expert says.
About 200,000 Medicare enrollees spent $ 5,000 or more for their prescriptions that year .
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