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January jobs report: Unemployment rate falls to 4%, wages rise more than forecast; Trump signs order imposing sanctions on International Criminal Court over investigations of Israel; Ten Commandments in public schools debate reaches South Dakota; Virginia ranks among worst states for wage theft; Mexican long-nosed bat makes appearance in Arizona.

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Attorney General Pam Bondi strikes a Trump tone at the Justice Department, federal workers get more time to consider buyouts, and an unclassified email request from the White House worries CIA vets.

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During Black History Month, a new book shares how a unique partnership built 5,000 schools for Black students, anti-hunger advocates say ag communities would benefit from an expanded SNAP program, and Americans have $90 billion in unpaid medical bills.

Report: MS seniors to benefit from Medicare drug price cap

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Monday, October 14, 2024   

Mississippians on Medicare could see big savings next year, as part of the Inflation Reduction Act.

More than 19,000 Mississippi residents will benefit from a new Medicare prescription drug spending cap starting January 1, according to a report from AARP.

Ronda Gooden, communications director with AARP Mississippi, said her organization advocated for the 2022 Prescription Drug Law - and predicts it will provide significant savings for Medicare enrollees across the country.

"They don't pay a dime over $2,000 next year for prescription drugs they get at the pharmacy," said Gooden. "It gives Mississippi seniors on Medicare drug plans some peace of mind, as they struggle to keep up with the rising costs for other everyday essentials - like their housing, their groceries, utilities."

Gooden pointed out that between 3 and 4 million people with Part D drug plans nationwide are estimated to benefit from the new out-of-pocket cap every year between 2025 and 2029.

Gooden said the AARP report analyzes the number of enrollees who are expected to benefit from the prescription price cap by state, age, gender, and race, between 2025 and 2029.

"The findings indicate," said Gooden, "Medicare drug plan enrollees nationwide who reach the new out-of-pocket gap will see average savings of roughly $1,500 or 56%."

She added that more than three-quarters of Medicare drug plan enrollees affected by the new drug pricing next year are between ages 65 and 84.

The Inflation Reduction Act also requires drug companies to pay a penalty if they raise their prices higher than the rate of inflation.



Disclosure: AARP Mississippi contributes to our fund for reporting on Civic Engagement, Community Issues and Volunteering, Health Issues, Senior Issues. If you would like to help support news in the public interest, click here.


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