Nearly 1.5 Million Part D Enrollees Reached Out-of-Pocket Limit By June 2024

Nearly 1.5 million (2.7%) of the 55.5 million Medicare Part D members reached the out-of-pocket drug cost cap under the Inflation Reduction Act (IRA), at around $3,500, by June 30, 2024. Members who reach the cap have no further out-of-pocket costs for the remainder of the year. For 2025, the Part D out-of-pocket cost cap drops to $2,000. If the $2,000 cap, which will go into effect next year, had been in effect this year, about 4.6 million people would have hit the cap by June 30 . . .