Medicare’s $2,000 prescription drug cap to provide major relief for cancer patients starting January 1
Starting Jan. 1, older adults on Medicare will spend no more than $2,000 a year on prescription drugs when a new price cap on out-of-pocket payments from the Inflation Reduction Act goes into effect.
Starting Jan. 1, older adults on Medicare will spend no more than $2,000 a year on prescription drugs when a new price cap on out-of-pocket payments from the Inflation Reduction Act goes into effect.
Experts say the change is expected to provide major relief for cancer patients who often struggle to afford their medications due to the high cost of cancer drugs.
Diana DiVito, of Canonsburg, Pennsylvania, recalls the shock she felt after she got her first co-payment for the cancer drug Imbruvica in 2016.
The 83-year-old was diagnosed with chronic lymphocytic leukemia, a type of blood cancer that begins in the bone marrow, in 2005. She underwent treatment, including chemotherapy, and went into remission. When she had a recurrence, she started taking Imbruvica.
By 2021, DiVito had spent $56,000 out-of-pocket on the daily pill.
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