Savings for Seniors and Others with Medicare

Senator Catherine Cortez Masto’s grandparents worked hard their entire lives, and when they retired, they relied on Medicare to support their health and independence, just as many Nevadans do today. She understands how important it is to strengthen Medicare, especially for the seniors and people with disabilities who continue to face challenges in affording their essential medications.

That’s why Senator Cortez Masto voted to pass the Inflation Reduction Act to help Nevadans keep more of their hard-earned money in their pockets. This law is helping Nevadans with Medicare save money on health care by lowering costs on some of the most common and expensive prescription drugs, capping out-of-pocket drug expenses, and expanding access to no-cost adult vaccines.

But Catherine understands that there’s still more work to do to lower health care costs. So as these benefits begin to roll out for seniors in Nevada, she’s continuing to fight in the Senate to lower costs for every family.

Benefits under the Inflation Reduction Act:

$2,000 Annual Out-of-pocket Cap on Prescription Drug Costs

For Nevadans with Medicare Part D prescription drug coverage, annual out-of-pocket prescription drug costs will be capped at $2,000 starting in 2025.
$35 per month for insulin

Copayments for insulin covered by a Medicare drug plan are capped at $35 for a one month supply, and seniors don’t have to pay a deductible for their insulin. Insulin for a covered* insulin pump also won’t cost more than $35 per month.
Free preventative vaccines

Recommended adult vaccines including RSV, shingles and Tdap are available to Nevadans with Medicare at no out-of-pocket cost.
Lower Prescription Drug Prices

By allowing Medicare to negotiate lower prescription drug prices, Nevadans with Medicare drug coverage can expect lower costs for selected medications starting in 2026.

*Covered under Medicare Part B, Medicare Supplemental Insurance (Medigap), or a Medicare Advantage Plan

Prescription drug savings

In addition to capping the cost of insulin, the Inflation Reduction Act empowers Medicare to negotiate directly with drug companies for the first time. In August of 2024, the Biden-Harris Administration announced negotiated prices for 10 of the costliest, single-source brand-name drugs covered under Medicare Part D, which will take effect beginning January 1, 2026.

Projected Savings on Medications Selected for Medicare Negotiation

79% Off30-day supply

Used to treat diabetes

76% Off30-day supply

Used to treat diabetes

53% Off30-day supply

Used to treat heart failure

66% Off30-day supply

Used to treat diabetes, heart failure, and chronic kidney disease

56% Off30-day supply

Used to prevent and treat blood clots

38% Off30-day supply

Used to treat various blood cancers

68% Off30-day supply

Used to treat diabetes, heart disease, and chronic kidney disease

67% Off30-day supply

Used to treat rheumatoid arthritis, psoriasis, and psoriatic arthritis

66% Off30-day supply

Used to treat psoriasis, psoriatic arthritis, Crohn's disease, and ulcerative arthritis

62% Off30-day supply

Used to treat and prevent blood clots, and reduce the risk for patients with coronary or peripheral artery disease

How long will these prices last?

These prices will remain in effect for as long as the medication is part of the Medicare Drug Price Negotiation program. Each year, the negotiated price will adjusted according to the Consumer Price Index to account for inflation. The prices may also change if Medicare and the manufacturing company renegotiate the cost of the selected drug.

If you have Questions or need assistance

If you’re facing issues with your Medicare, Senator Cortez Masto’s office may be able to help. Click here to reach out to the office nearest you in Nevada, or the senator’s Washington, D.C. office.

For more information about Medicare savings, call 1-800-MEDICARE

You can also visit www.Medicare.gov/ExtraHelp to find out if you qualify for additional assistance with Medicare prescription drug costs.

Savings for Seniors and Others with Medicare