The report found that even with the Inflation Reduction Act's new $2,000 cap on Medicare Part D out-of-pocket prescription drug spending in 2025, retirees may still need substantial savings to cover premiums and other health care costs.

Officials at HHS have indicated the department plans to appeal the ruling and defend the policy changes in court.

The latest polling from KFF shows that about 4 in 10 U.S. adults (41%) say it is likely the Trump administration's policies will lower prescription drug costs for people like them, but views generally follow party lines.