Medicare Costs May Go Down Drastically This Year, Thanks To a New Law

One of the biggest concerns for senior citizens is the price of prescription drugs and other healthcare expenses, but this year those costs may actually go down…….dramatically. Thousands of Americans on Medicare have been paying exorbitant prices for a variety of medications, but this year all Medicare out-of-pocket prescriptions will be capped at $2,000. Another crucial medical necessity — the shingles vaccine — which many seniors skip because of the cost ($100-$200) is now free. In addition, insulin is now capped at $35 a month. Ten drugs were selected for Medicare drug price negotiation, including Eliquis, Jardiance, and Xarelto, which will bring the exorbitant prices down to the affordable level. The best news is that Medicare is lowering the cost of the premium for Part B — which covers outpatient visits to your doctor. Nearly 15 million Americans will save an average of $800 a year on health insurance costs. The government is able to pay for these benefits by making sure that the biggest corporations in America are paying their fair share of federal taxes.