2025 Medicare Prescription Drug Cap
Jan 02, 2025
Starting January 1, a new $2,000 out-of-pocket spending cap for prescription drugs is in effect for Medicare Part D beneficiaries, expecting to save millions of seniors an average of $400 per year. The cap applies to all Medicare Part D plans and Medicare Advantage plans that include prescription drug coverage. This change also eliminates the "donut hole" or coverage gap. The cap covers medications within a plan's formulary, including deductibles, copayments, and coinsurance, but does not include drugs outside the formulary, those covered by Medicare Part B, or Part D premiums. Read more here
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