Understand how Medicare drug plans work to set proper expectations for enrolling and utilizing your plan.

In implementing the Inflation Reduction Act (IRA), Centers for Medicare & Medicaid Services (CMS) has an obligation to ensure that plans, manufacturers and pharmacy benefit managers do not improperly shift their burdens to beneficiaries. Read Medicare Right’s article on the effects of the Prescription Drug Law.

The Inflation Reduction Act (IRA) has a rolling timeline, with changes starting in 2023 and continuing for many years, including specific dates for benefits like the $35 cap on insulin for Medicare recipients in 2023 and the cap on out-of-pocket prescription drug costs at $2,000 for Medicare in 2025, $2,100 in 2026…

Keep up to date on premiums for Medicare Part A, Medicare Part B, IRMAA Part B and IRMAA Part D are based on modified adjusted gross income from two years ago.

The Medicare Prescription Payment Plan (M3P) is a new payment option that works with your current drug coverage to help you manage your out-of-pocket costs for drugs covered by your plan by spreading them across the calendar year (January–December). This does not include premiums . This does not save money.

Here are 5 tips to consider if you think you might need to get help with the costs of prescription drug coverage.

Will Medicare pick up all the costs? What about long-term care?

Tune in to Linda Gardner at Blue Heron Capital on the radio or via podcast

Saturdays @ 10AM on 630 KHOW TALK RADIO

Sundays @ 9AM on 93.7 Freedom

How can I get coverage for dental? Will it change my medical coverage or costs?