Medicare rule puts cap on prescription costs [Video]

Buffalo, N.Y. (WBEN) – New Medicare rules are set to help seniors in 2025, as a new prescription cost cap has been set at $2,000. However, one local financial expert warns insurance may take steps to recoup losses.

“Thanks to the President’s lower cost prescription drug law, the Inflation Reduction Act, millions of people with Medicare Part D will see even lower costs next year. Your out-of-pocket costs for prescription drugs will be limited to no more than $2,000, keeping more of your money in your pocket,” said HHS Secretary Xavier Becerra. “In addition to improving the Part D drug benefit, we are updating payments to Medicare managed care plans for people who rely on these plans. The Biden-Harris Administration will continue to work on lowering health care costs for all Americans, fulfilling a promise the President made.”

“CMS continues to take steps to maintain the stability of the Medicare Advantage and Part D …