Medicare prescription drug plans will offer cost control for the first time ever next year, benefitting thousands of Illinois seniors.
President Joe Biden's Inflation Reduction Act will soon reign in some drug prices covered under Medicare; prices that have increased faster than inflation.
Kapcia said he pays so much for his prescriptions that he's had to make difficult, and potentially dangerous, choices. Prices for those medications have nearly tripled in the U.S. compared to other countries that already have government oversight. Half of all prescription drugs covered by Medicare increased in price faster than inflation from 2019 to 2020. But starting next year, drug makers who increase prices higher than the inflation rate will have to pay a penalty. The provision means a lot to Kapcia.
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