Medicare Prescription Drug Cap 2025 | Interview with Leigh Purvis

Bonus episode! Guest: Leigh Purvis, Prescription Drug Policy Principal, AARP Public Policy. A provision in the 2022 Inflation Reduction Act will cap annual out-of-pocket prescription drug costs for people in Medicare prescription drug plans, beginning at $2,000 in January 2025. A new AARP report analyzes the number of enrollees that will benefit from the cap by state, age, gender, and race between 2025 and 2029. The findings indicate that Medicare drug plan enrollees who reach the new out-of-pocket cap will see average savings of roughly $1,100, or 56%, in 2025 for their prescription drugs.   Have questions about retirement planning or other financial topics? Send Yelisey, and Trey an email and the topic could be featured in future episodes! Don't forget to leave a review and share this podcast with anyone looking to boost their financial knowledge. Schedule Your Meeting:[email protected] | [email protected] | (612) 286-0580 Subscribe to the YouTube Page:https://www.youtube.com/Allthingsfinancial About Guardian Wealth Strategies:Today, Guardian Wealth Strategies serves clients in the greater Minneapolis-St. Paul metro area, across the upper Midwest and throughout nineteen states nationwide. Their dedicated advisory team provides professional fiduciary advice and services to both individuals, businesses, and nonprofit organizations. Trey Peterson is a Retirement Planning Specialist with Guardian Wealth Strategies and a Partner of All Things Financial. He and his business partner Yelisey have created a one-stop shop for those in and nearing retirement. Our mission is to help you: Retire once, Retire well. Trey is a graduate of Oral Roberts University with a degree in Corporate Communication. He is currently pursuing his master’s degree in leadership. He is also a graduate of The National Institute of Christian Leadership. Yelisey Kuts is a Fiduciary Wealth Advisor with Guardian Wealth Strategies and a Partner of All Things Financial. He has a master’s degree in business from Oral Roberts University. Aside from being a financial advisor, Yelisey is also an educator. Since 2015, Yelisey has been teaching evening classes on a wide range of retirement topics.