Millions of Medicare enrollees are likely to see relief in 2025 when a $2,000 cap on out-of-pocket prescription drug-spending goes into effect.

Medicare enrollees will now pay a maximum of $2,000 on out-of-pocket prescription drug costs annually as part of another provision of the Inflation Reduction Act. The limit applies to prescription drugs bought at pharmacies and through mail orders, which are covered through Medicare Part D.

Medicare will begin capping prescription drug costs at $2,000 annually, a move expected to save millions of Americans money on medications. (Scripps News)