CNBC November 21, 2023
KEY POINTS
- A new law limiting how much Medicare enrollees pay for out-of-pocket prescription drug costs is set to get phased in starting in 2025.
- For retirees, that will contribute to higher Medicare Part D premiums in 2024, new research finds.
A new law is poised to cap seniors’ prescription drug costs covered under Medicare, starting in 2025.
But retirees may be in for a shock next year — significantly higher Medicare Part D premiums for prescription drug coverage.
The cost of the average premiums will rise between 42% and 57% in 2024 compared to 2023 in five states with the largest populations of individuals over 65 who are on...
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