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.
August 20, 2026
A physician and Olympian will give an inspirational address as part of this year's Empowering Physicians event on Friday, September 25, at the Minneapolis Institute of Art.
August 20, 2026
Minnesota received some disturbing news this week from the Centers for Disease Control and Prevention (CDC), as data shows that for the 2025-2026 school year, vaccination rates decreased and non-medical exemptions increased.
August 20, 2026
On August 11, a federal appellate court sided with the Texas Medical Association (TMA) argument that the way the No Surprises Act’s qualifying payment amount (QPA) is calculated has historically favored payers in arbitration.