Vincent Rajkumar: Important for Medicare recipients

Vincent Rajkumar, Professor of Medicine at the Mayo Clinic in Rochester, Minnesota, shared a post on X/Twitter:

“Important for Medicare recipients: Starting this year, your annual out of pocket expenses for Part D prescription meds will be capped. This is a huge relief. For 2024, the maximum you will pay will be ~$3250.

This goes down further to $2000 in 2025. Until this year there was no cap. Patients had to pay 5% of the cost of meds once they reached a certain threshold. Thus patients with cancer needing expensive drugs had huge bills. The cap provides significant peace of mind.

For example the drug Revlimid that I prescribe for myeloma costs $17,000 for 21 day supply. 5% of $17,000 every month is a massive amount of money for most.

These changes are as a result of measures passed under the Inflation Reduction Act.”

Source: Vincent Rajkumar/X