How Ohio senior citizens will soon save money on medication

COLUMBUS, Ohio (WCMH) -- Starting Jan. 1, over 127,000 senior citizens across Ohio will see major savings on their medication, according to the AARP.

That’s because there will be a $2,000 out-of-pocket cap on prescriptions for Medicare Part D enrollees.

Many seniors in Ohio are on fixed incomes, making money tight. Jenny Carlson, the state director of AARP Ohio, said medication can be extremely expensive, especially for people who have cancer or are on multiple drugs.

“There are a lot of individuals that are rationing their healthcare so that they can pay for other really important aspects of living," Carlson said. "That’s housing, food, utility bills."

Some seniors pay anywhere from $2,500 to $15,000 each month for their medications so paying just $2,000 for the whole year will make a huge difference, according to Carlson.

“So, this $2,000 cap will allow for them to have more peace of mind so that they can continue to take care of themself and recover and not have to worry about these large out-of-pocket expenditures,” Carlson said.

Of the people who will benefit from this cap, Carlson said only 7% of them know about it. So, AARP is working to get the word out before open enrollment for Medicare begins on Oct. 15.

“We’ve been out in the community, we’ve talked to eligible seniors. They are pleased with this change,” Carlson said. “It’s going to put more money in their pocketbooks.”

Carlson said AARP hopes this means Ohio seniors won’t have to choose between food, shelter and essential medication.

“If you go to your doctor and they say ‘well we want to put you on this drug’ and you can’t afford it, you’re making life-changing decisions about how you manage your healthcare moving forward," Carlson said. "To me that’s a sad situation."

AARP released a report on the out-of-pocket cap. To read the full report and its findings, click here.