Medicare enrollees with prescription drug plans (whether traditional Part D or as part of a Medicare Advantage plan) will have the option to pay out-of-pocket prescription drug costs in the form of capped monthly payments instead of all at once at the pharmacy. Launching January 1, 2025, this additional provision of the Inflation Reduction Act, will be helpful for people with Medicare Part D who have high cost-sharing earlier in the plan year by spreading out those expenses across months.
If a payment plan would be a benefit, you may opt-in during Open Enrollment beginning October 15th and at any time during the year. Please talk to Mark or Curtis as soon as possible about this program, the impact on your monthly Medicare spending and how to enroll.