Rosen Announces Start of $2,000 Cap on Out-of-Pocket Prescription Drug Costs for Nevada Seniors

WASHINGTON, D.C.– U.S. Senator Jacky Rosen (D-NV) announced that starting this year, Nevada seniors enrolled in Medicare Part D will have their annual out-of-pocket costs for prescription drugs capped at $2,000 per year. This cost cap was part of theInflation Reduction Actthat Senator Rosen helped pass, and it will prevent Medicare recipients from paying more than $2,000 per year in out-of-pocket costs for prescription drugs. It is expected to save nearly 19 million Americans an average of $400 each.
“I’m proud to have helped pass the law that is helping lower expenses for Nevada’s seniors at a time when they’re facing rising costs,”said Senator Rosen.“This newly-enacted cap will provide Medicare Part D recipients with much-needed financial relief by making sure they don’t have to pay more than $2,000 per year for prescription drugs. I’ll keep doing everything I can in the U.S. Senate to lower costs for all Nevadans.”
Senator Rosen has been leading the fight to lower prescription drug costs for Nevadans. Last year, she joined her colleagues in filing anamicus briefsupporting the federal law they helped pass to give Medicare the power to negotiate for lower prescription drug prices. Senator Rosen alsointroduced bipartisan legislationto lower out-of-pocket prescription drug costs for seniors. Thanks to theInflation Reduction Act, Senator Rosen helped lower prescription drug costs for seniors, lower health care premiums, and cap the insulin costs for those on Medicare Part D at $35/month per prescription.
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