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Government shutdown looms after Trump-backed bill fails; Environmental groups sue CA Air Resources Board over biogas credits; NY elected officials work to electrify municipal buildings; Need a mental health boost? Talking hot dog is here.

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President-elect Trump repeats his threats to jail Jan. 6th committee members, while also putting a stop-gap spending plan in jeopardy. A court removes Fani Willis from Trump's Georgia election interference case. The FAA restricts drones in New Jersey, and a Federal Reserve rate cut shakes markets.

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Rural folks could soon be shut out of loans for natural disasters if Project 2025 has its way, Taos, New Mexico weighs options for its housing shortage, and the top states providing America's Christmas trees revealed.

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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