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Medicare’s $2,000 prescription drug cap expected to bring major relief to cancer patients

NBC News
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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 .