"Starting in 2025, all Medicare plans will include a $2,000 cap on what you pay out-of-pocket for prescription drugs covered by your plan. If your out-of-pocket spending on covered drugs reaches $2,000 (including certain payments made on your behalf, like through the Extra Help program), you'll automatically get 'catastrophic coverage.' That means you won't have to pay out-of-pocket for covered Part D drugs for the rest of the calendar year."
"In 2024, you won't get catastrophic coverage unless your out-of-pocket spending reaches $8,000. Some enrollees with high prescription drug costs saw those expenses capped at $3,500 this year. Prior to the Inflation Reduction Law, there was no cap on medication expenses covered by their Part D drug plans."
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