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American Bar Association sues Trump administration over executive orders targeting law firms; Florida universities face budget scrutiny as part of 'anti-woke' push; After Hortman assassination, MN civic trainers dig deeper for bipartisanship.

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Political tensions rise after Minnesota assassinations. Trump's DOJ demands sweeping election data from Colorado. Advocates mark LGBTQIA+ pay inequity, and U.S. and U.K. reach a new trade deal.

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EV charging stations are harder to find in rural America, improving the mental health of children and teachers is the goal of a new partnership in seven rural states, and a once segregated Mississippi movie theater is born again.

AR seniors to benefit from Medicare prescription drug cap

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Wednesday, September 18, 2024   

Arkansans who are on Medicare will see big savings next year thanks to the Inflation Reduction Act.

The Act will cap prescription drug costs, reduce health insurance premiums for tens of thousands of Arkansans by about $870 a year and expand coverage to approximately 18,000 people.

Nina Weiler-Harwell, associate director of advocacy and community engagement for AARP California, said every year from 2025 to 2029, between three and four million Part D plan enrollees are estimated to benefit from the new out-of-pocket cap - including 14,000 residents of the Natural State.

"Medicare drug plan enrollees nationwide who reach the new out-of-pocket cap will see an average savings of roughly $1,500 or 56% in 2025 for new prescription drugs," Weiler-Harwell reported.

On average, 40% of people on Medicare who reach the cap will save at least $1,000 a year and 12% will see savings of more than $3,000.

Weiler-Harwell said the Inflation Reduction Act introduced a number of new policies to cut costs for Americans on Medicare.

"Copays for insulin capped at $35 a month. Vaccines such as shingles and pneumonia are free," Weiler-Harwell outlined. "The Inflation Reduction Act did allow Medicare to negotiate the price of high-cost prescription drugs. But we won't really start to see that until 2026."

Also thanks to the Inflation Reduction Act, drug companies will have to pay a penalty if they raise their prices higher than the rate of inflation.


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