More than 63 million Americans are covered by Medicare.
Here’s the good news: By 2025, they’ll pay no more than $2,000 per year for their drugs.
Here’s the bad news: For those enrolled in traditional Medicare (about 35 million people) without supplemental coverage, there are no caps on hospital or doctor bills. That could mean catastrophic medical bills arising from catastrophic out-of-pocket expenses.
Medicare Advantage, which is operated by health insurance companies, offers limits on out-of-pocket costs (at a greater premium cost). Advocates are pushing to establish a cap for all services under Medicare.
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