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Trump administration begins sweeping layoffs with probationary workers, warns of larger cuts to come; NYC music school teachers strike after union negotiations break down; Ohio advocates push for inclusive policies during Black History Month; Health experts recommend sunshine, socializing to cure 'winter blues.'

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Federal workers tasked with securing elections from foreign interference are placed on leave, parents' organizations reject dismantling Dept. of Education, and the Congressional Black Caucus presses discussions on slavery reparations.

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Rural America struggles with opioids and homelessness in unexpected ways, Colorado's Lariat Ditch could help spur local recreation, and book deliveries revive rural communities hit by Hurricane Helene.

Tennessee seniors to benefit from Medicare prescription drug cap

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Tuesday, September 24, 2024   

Tennesseans on Medicare will see big savings next year thanks to the Inflation Reduction Act.

The Act caps prescription drug costs at $2,000 per year for people on Medicare, starting in 2025.

Nina Weiler-Harwell, associate director of advocacy and community engagement for AARP California, said every year from 2025 to 2029, between 3 million and 4 million Part D plan enrollees are estimated to benefit from the new out-of-pocket cap.

"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 explained.

More than 53,000 Tennessee Medicare Part D enrollees who do not qualify for the low-income subsidy are expected to hit the $2,000-dollar out-of-pocket spending cap next year, amounting to roughly 6.4% of all Tennesseans with a Medicare prescription drug plan, as reported in a recent AARP study.

Weiler-Harwell noted 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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