Medicare recipients will pay no more than $2,000 annually for covered prescription drugs starting Jan. 1, a change that could potentially benefit millions of older Americans.
According to health policy research group KFF, 5 million Medicare Part D enrollees faced out-of-pocket drug costs of $2,000 or more in at least one year between 2012 and 2021.
A total of 6.8 million Part D enrollees have paid $2,000 or more out of pocket in at least one year since the program began in 2007.
Eliminating the Donut Hole
Until now, enrollees in Medicare Part D, which pays for prescription drugs, had a temporary gap in coverage, sometimes called a donut hole….