Tag: medication
2025 will be a banner year for retirees. In January, a hard $2,000 cap on how much they spend out of their own pockets for medications kicks in. Retirees should welcome the new, much lower spending limit, which will protect them from extraordinary costs, especially if they develop an illness that requires an expensive medication…
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…
