August 29, 2024
On August 28, AARP released a report that shows an estimated 40,050 of Minnesotans on Medicare prescription drug plans will see savings thanks to a new out-of-pocket cap that starts January 1, 2025.
The savings are made possible by a provision in the 2022 prescription drug law that AARP championed that caps out-of-pocket prescription drug costs every year, beginning at $2,000 next year, for America’s 56 million Medicare drug plan enrollees.
The AARP report analyzes the number of enrollees who will benefit from the cap by state, age, gender, and race between 2025 and 2029. The findings indicate that Medicare drug plan enrollees nationwide who reach the new out-of-pocket cap will see average savings of roughly $1,500, or 56%, in 2025 for their prescription drugs.
Other findings from the report include:
Between 3 and 4 million Part D plan enrollees nationwide are estimated to benefit from the new out-of-pocket cap every year between 2025 and 2029, which equals 40,050 in Minnesota.
More than three-quarters of Medicare drug plan enrollees who will benefit in 2025 are between the ages of 65 and 84.
AARP Minnesota serves more than 620,000 members age 50 and older in the state.
May 29, 2025
As the Legislature works to complete its work on the state’s two-year budget, another deadline is looming. Legislators are required to pass a balanced budget before the end of the fiscal year—June 30, 2025. If they don’t meet that deadline, the state will begin a partial shutdown.
May 29, 2025
Registration has opened for the Empowering Physicians: A Night of Reflection and Engagement event, featuring best-selling author Elisabeth Rosenthal, MD.
May 29, 2025
The AMA is encouraging physicians to contact their U.S. senators and urge them to revise the reconciliation bill passed recently by the U.S. House of Representatives. While the bill includes language that would stabilize Medicare physician payments, it also threatens to cripple Medicaid and CHIP.