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flag Starting 2023, Medicare introduces a $2,000 annual cap on drug costs, benefiting millions.

flag Starting January 1, 2023, the Inflation Reduction Act will introduce a $2,000 annual cap on Medicare prescription drug costs, providing significant relief to cancer patients and others who struggle with high medication prices. flag The cap applies to all drugs under Medicare Part D and allows enrollees to spread payments throughout the year. flag According to an AARP report, 3.2 million Medicare recipients are expected to benefit in 2025, rising to 4.1 million by 2029.

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