Are you on Medicare?  Do you know someone on Medicare?

If yes, listen up.

There are huge good news changes taking effect in January 2025 to reduce your prescription costs.

Medicare Part D enrollees’ out-of-pocket spending on prescription drugs will be capped at $2,000. This is due to a provision in President Biden’s 2022 Inflation Reduction Act, that AARP championed, and is a significant step towards lowering prescription drug prices for the nearly 55 million Medicare Part D enrollees.

A new AARP report shows that 94% of enrollees expected to reach this cap will see an average saving of $2,500 in 2025 nationwide. The report also analyzes state-level data, showing that Part D enrollees will see lower out-of-pocket costs averaging $2,500 or more in 22 states.

We want to welcome back to the Show our expert, Leigh Purvis.

She is AARP’s Prescription Drug Policy Principal, where she heads the organization’s work on prescription drug issues and is a recognized expert on prescription drug pricing and coverage. Her work focuses on improving prescription drug affordability and accessibility for older adults. Purvis has testified before Congress and state legislatures on behalf of AARP and speaks frequently on a wide variety of prescription drug-related issues.