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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. Visit the <a href="https://states.aarp.org/region/iowa/" target="_blank">AARP Iowa</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); 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} </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-SAYLORSBURG-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-SAYLORSBURG-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; 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The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. Visit the <a href="https://states.aarp.org/region/iowa/" target="_blank">AARP Iowa</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. 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}); </script> </div> </div> ', 'scripts_for_layout' => '<title>Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</title> <meta name="page_title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Savings Possible Thanks to the Prescription Drug Law Championed by AARP AARP released a report on August 28 that shows an estimated 27,348 Iowans on" name="description"/> <meta content="Thousands, of, Iowans, on, Medicare, Prescription, Drug, Plans, See, Savings, from, New, Out, Pocket, Cap" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/iowa/medicarerxcap" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/thousands-of-iowans-on-medicare-prescription-drug-plans-to-see-savings-from-new-outofpocket-cap-ia-2024-08-30.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta name="twitter:description" content="An estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. "/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/01f4b7d/2147483647/strip/true/crop/800x514+0+9/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2Fdd%2F44%2Ff91be1da4bfcaf0e15bbd2bf8142%2Fgettyimages-481346628.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta property="og:description" content="An estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. "/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/01f4b7d/2147483647/strip/true/crop/800x514+0+9/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2Fdd%2F44%2Ff91be1da4bfcaf0e15bbd2bf8142%2Fgettyimages-481346628.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. 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The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. Visit the <a href="https://states.aarp.org/region/iowa/" target="_blank">AARP Iowa</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. Visit the <a href="https://states.aarp.org/region/iowa/" target="_blank">AARP Iowa</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); 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}); </script> </div> </div> ', 'scripts_for_layout' => '<title>Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</title> <meta name="page_title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Savings Possible Thanks to the Prescription Drug Law Championed by AARP AARP released a report on August 28 that shows an estimated 27,348 Iowans on" name="description"/> <meta content="Thousands, of, Iowans, on, Medicare, Prescription, Drug, Plans, See, Savings, from, New, Out, Pocket, Cap" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/iowa/medicarerxcap" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/thousands-of-iowans-on-medicare-prescription-drug-plans-to-see-savings-from-new-outofpocket-cap-ia-2024-08-30.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta name="twitter:description" content="An estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. "/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/01f4b7d/2147483647/strip/true/crop/800x514+0+9/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2Fdd%2F44%2Ff91be1da4bfcaf0e15bbd2bf8142%2Fgettyimages-481346628.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta property="og:description" content="An estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. "/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/01f4b7d/2147483647/strip/true/crop/800x514+0+9/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2Fdd%2F44%2Ff91be1da4bfcaf0e15bbd2bf8142%2Fgettyimages-481346628.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. 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AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.
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 Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”
Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”
The full report and a fact sheet on the findings is available at www.aarp.org/partdspendingcap.
This story is provided by AARP Iowa. Visit the AARP Iowa page for more news, events, and programs affecting retirement, health care, and more.
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Center Valley, PA
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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. Visit the <a href="https://states.aarp.org/region/iowa/" target="_blank">AARP Iowa</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); 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The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. 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}); </script> </div> </div> ', 'scripts_for_layout' => '<title>Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</title> <meta name="page_title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Savings Possible Thanks to the Prescription Drug Law Championed by AARP AARP released a report on August 28 that shows an estimated 27,348 Iowans on" name="description"/> <meta content="Thousands, of, Iowans, on, Medicare, Prescription, Drug, Plans, See, Savings, from, New, Out, Pocket, Cap" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/iowa/medicarerxcap" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/thousands-of-iowans-on-medicare-prescription-drug-plans-to-see-savings-from-new-outofpocket-cap-ia-2024-08-30.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta name="twitter:description" content="An estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. 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The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. Visit the <a href="https://states.aarp.org/region/iowa/" target="_blank">AARP Iowa</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. 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}); </script> </div> </div> ', 'scripts_for_layout' => '<title>Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</title> <meta name="page_title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Savings Possible Thanks to the Prescription Drug Law Championed by AARP AARP released a report on August 28 that shows an estimated 27,348 Iowans on" name="description"/> <meta content="Thousands, of, Iowans, on, Medicare, Prescription, Drug, Plans, See, Savings, from, New, Out, Pocket, Cap" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/iowa/medicarerxcap" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/thousands-of-iowans-on-medicare-prescription-drug-plans-to-see-savings-from-new-outofpocket-cap-ia-2024-08-30.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta name="twitter:description" content="An estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. "/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/01f4b7d/2147483647/strip/true/crop/800x514+0+9/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2Fdd%2F44%2Ff91be1da4bfcaf0e15bbd2bf8142%2Fgettyimages-481346628.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta property="og:description" content="An estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. "/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/01f4b7d/2147483647/strip/true/crop/800x514+0+9/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2Fdd%2F44%2Ff91be1da4bfcaf0e15bbd2bf8142%2Fgettyimages-481346628.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. Visit the <a href="https://states.aarp.org/region/iowa/" target="_blank">AARP Iowa</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); 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The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. Visit the <a href="https://states.aarp.org/region/iowa/" target="_blank">AARP Iowa</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); 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"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/01f4b7d/2147483647/strip/true/crop/800x514+0+9/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2Fdd%2F44%2Ff91be1da4bfcaf0e15bbd2bf8142%2Fgettyimages-481346628.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. Visit the <a href="https://states.aarp.org/region/iowa/" target="_blank">AARP Iowa</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. 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}); </script> </div> </div> ', 'scripts_for_layout' => '<title>Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</title> <meta name="page_title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Savings Possible Thanks to the Prescription Drug Law Championed by AARP AARP released a report on August 28 that shows an estimated 27,348 Iowans on" name="description"/> <meta content="Thousands, of, Iowans, on, Medicare, Prescription, Drug, Plans, See, Savings, from, New, Out, Pocket, Cap" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/iowa/medicarerxcap" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/thousands-of-iowans-on-medicare-prescription-drug-plans-to-see-savings-from-new-outofpocket-cap-ia-2024-08-30.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap"/> <meta name="twitter:description" content="An estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. 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"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/01f4b7d/2147483647/strip/true/crop/800x514+0+9/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2Fdd%2F44%2Ff91be1da4bfcaf0e15bbd2bf8142%2Fgettyimages-481346628.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">Thousands of Iowans on Medicare Prescription Drug Plans to See Savings from New Out-of-Pocket Cap</h1></header> <div class="posted-on"> Posted on 08/30/24 </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/dd/44/f91be1da4bfcaf0e15bbd2bf8142/gettyimages-481346628.jpg" alt="Cost of Healthcare" width="800" height="533"/> <figcaption class="Figure-caption">Savings Possible Thanks to the Prescription Drug Law Championed by AARP</figcaption> </figure> </div> </div><p>AARP released a report on August 28 that shows an estimated 27,348 Iowans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025. The savings, thanks to a provision in the 2022 Inflation Reduction Act that AARP championed, will cap out-of-pocket prescription drug costs every year at $2,000.<br><br>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.<br><br>“AARP fought hard for the prescription drug law of 2022 because we knew it would provide crucial relief for Medicare enrollees here in Iowa and across the country by lowering drug prices and out-of-pocket costs,” said Paige Yontz, Advocacy Manager of AARP Iowa which serves more than 329,000 members age 50 and older in the state. “Knowing they won’t pay a dime over $2,000 next year – maximum – for prescription drugs they get at the pharmacy gives Iowa 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.”<br><br>Leslie Elam from Mount Vernon shared that the cap will be a welcome change. “Paying for essential medications that cost over $2,000 makes life really difficult for people on a fixed income,” said Elam. “I want to be able to enjoy my retirement without having to worry about whether I’ll be able to afford my meds.”<br><br>The full report and a fact sheet on the findings is available at <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/partdspendingcap" target="_blank" rel="noopener noreferrer">www.aarp.org/partdspendingcap</a></span></span>.</p></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Iowa. Visit the <a href="https://states.aarp.org/region/iowa/" target="_blank">AARP Iowa</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); 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} </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-SAYLORSBURG-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-SAYLORSBURG-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Pennsylvania Facebook Page" title="Image of AARP Pennsylvania Facebook Page" data-href="https://www.facebook.com/AARPPA" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/AARPPA" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/AARPPA">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Pennsylvania</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:PAAARP@aarp.org" target="_blank" rel="noopener">PAAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/pennsylvania/" target="_blank" rel="noopener">AARP Pennsylvania</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/your-local-aarp-office/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-SAYLORSBURG-PA" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); 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