Medicare Part D out-of-pocket drug costs are capped at $2,000 per year under the Inflation Reduction Act

The IRA's $2,000 annual out-of-pocket cap on Medicare Part D prescription drug costs becomes effective — the most significant Medicare drug benefit improvement since Part D was created in 2006. Affects ~18.5 million Medicare beneficiaries who previously had no cap, saving many thousands of dollars annually. Manufacturer Discount Program also replaces old Coverage Gap Discount Program.