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What is the AARP prescription law?

Under the 2022 prescription drug law, which AARP supported, drugmakers that raise their prices more than the rate of general inflation have to pay a penalty to Medicare for the amount of the price hike that exceeded inflation.

What are the changes for Medicare in 2024 and 2025?

In 2024, after paying the initial deductible, a person on Medicare will pay 25 percent of drug costs. They will have a cap of about $3,300 and will no longer pay five percent of drug costs in the catastrophic phase. In 2025, after paying the initial deductible, a person on Medicare will pay 25 percent of drug costs.

What is AARP prescription discount Program?

AARP Prescription Discounts provided by Optum Rx This program offers a free prescription discount card that can be used at over 66,000 pharmacies nationwide for savings on all FDA-approved medications.

What part of Medicare is to provide seniors with relief from high prescription costs?

Starting in 2025, all individuals with Medicare Part D will have their out-of-pocket prescription drug costs capped at $2,000. On January 1, 2024, the law also expanded eligibility for full benefits under the Low-Income Subsidy program (LIS or Extra Help) under Medicare Part D.

Is AARP a government program?

AARP is a nonprofit, nonpartisan organization with a mission to empower retired people to choose how they live as they age. AARP offers membership benefits including discounts, healthcare options, insurance products, travel-related services, education, and learning resources.

Does AARP have a RX plan?

AARP Preferred from UHC (PDP), AARP Medicare Rx Saver from UHC (PDP), and AARP Medicare Rx Basic from UHC (PDP) plans: Member may use any pharmacy in the network but may not receive preferred retail pharmacy pricing. Pharmacies in the Preferred Retail Pharmacy Network may not be available in all areas.

Do AARP members get discounts on prescriptions?

AARP Prescription Discounts provided by Optum Rx The program is open to anyone, whether youre an AARP member or not but AARP members receive additional benefits, including deeper discounts on medications, home delivery, coverage for your dependents and more.

Is AARP Foundation the same as AARP?

The Foundation was established by AARP in 1996 after a federal law blocked AARP and other lobbying organizations from receiving federal funds. The foundation served as a new, legally distinct vehicle to receive and administer the millions in federal funds that had previously gone directly to AARP.

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