Tag: Medicare
Medicare’s donut hole is the bane of existence for retirees with expensive medications. They will get substantial relief in 2025, when the Inflation Reduction Act, signed by President Biden last week, will cap all retirees’ annual drug copayments at $2,000. Monthly drug plan premiums are not included in this cap. The cap will effectively eliminat…
The brief’s key findings are: Even with Medicare coverage and ignoring long term care, retirees face sizable out-of-pocket costs for premiums, copays, and uncovered services. One way to gauge this burden is to look at how much these medical costs eat into their Social Security benefits and other income. After subtracting these costs, the typica…
