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Little Rock, AR
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New AARP Report: Impact of Historic Medicare Rx Out-of-Pocket Spending Cap on Arkansas Seniors

Posted on 09/02/24

AARP released a report that shows an estimated 17,853 Arkansans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings are made possible by a provision in the 2022 prescription drug law that AARP championed, which caps out-of-pocket prescription drug costs every year, beginning at $2,000 next year, for America’s 56 million Medicare drug plan enrollees.


The AARP report analyzes the number of enrollees who will benefit from the cap by state, age, gender, and race between 2025 and 2029. The findings indicate that Medicare drug plan enrollees nationwide who reach the new out-of-pocket cap will see average savings of roughly $1,500, or 56%, in 2025 for their prescription drugs.


“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Arkansas and across the country by lowering drug prices and out-of-pocket costs,” said Ashley McBride, State Director of AARP Arkansas, which serves more than 275,000 members age 50 and older in the state.

McBride continues, “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Arkansas seniors on Medicare drug plans some peace of mind as they struggle to keep up with rising costs for other everyday essentials like housing, groceries and utilities.”


Other findings from the report include:

  • 17,853 Arkansas enrollees in 2025 are estimated to reach the out-of-pocket cap  
  • That is 5.2% of Arkansas enrollees  
  • The number of enrollees in Arkansas who will be impacted by the out-of-pocket cap will continue to grow with an estimated 24,567 by 2029 
  • Between 3 and 4 million Part D plan enrollees nationwide are estimated to benefit from the new out-of-pocket cap every year between 2025 and 2029 
  • By 2029, the share of enrollees benefiting from the new out-of-pocket cap is estimated to be 10 percent or higher in at least 19 states plus the District of Columbia 
  • More than three-quarters of Medicare drug plan enrollees who will benefit in 2025 are between the ages of 65 and 84 

“Limiting how much seniors on Medicare drug plans pay for prescription drugs every year builds on other new and important cost-saving measures, such as capping insulin co-pays at $35 a month and making many vaccines, such as shingles and pneumonia, free,” said McBride.



Learn more about the impact of the new Medicare Part D out-of-pocket spending cap and view the full report here.
TEMPLATE NATIONAL of Rx $2k State Template 1.mp4

This story is provided by AARP Arkansas. Visit the AARP Arkansas page for more news, events, and programs affecting retirement, health care, and more.

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