Medicare

From Oct. 15 through Dec. 7, Medicare enrollees have the ability to switch plans for 2025. Here’s what changes experts say to watch for next year.

The negotiated price cuts won’t take effect until 2026, but a $2,000 annual cap on out-of-pocket prescription drug costs begins for all Medicare Part D enrollees next year.

The Biden administration announced Thursday that the prices of 10 popular, and expensive, drugs would be cut for Medicare Part D enrollees beginning January 2026.

The Biden administration is taking a victory lap after federal officials inked deals with drug companies to lower the price for 10 of Medicare’s most costliest drugs.