Improvements to Medicare drug coverage required by the IRA are the most sweeping changes since Congress added the benefit in 2003, but most voters don’t know about them. And some beneficiaries may be surprised by a downside: premium increases.
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When Pam McClure learned she’d save nearly $4,000 on her prescription drugs next year, she said, “it sounded too good to be true.” She and her husband are both retired and live on a “very strict” budget in central North 
Dakota.
By the end of this year, she will have spent almost $6,000 for her medications, including a drug to control her diabetes.
McClure, 70, is one of about 3.2 million people with Medicare prescription drug insurance whose out-of-pocket medication costs will be capped at $2,000 in 2025 thanks to the Biden administration’s 2022 Inflation Reduction Act….
“It’s wonderful — oh my gosh. We would actually be able to live,’’ McClure said. “I might be able to afford fresh fruit in the wintertime.” [Continued in KFF Health News, CBS NEWS, Los Angeles Times, and The Atlanta Journal-Constitution.]
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