MyMedicareHero Blog
Are burdens for reduced prescription costs shifted to beneficiaries and agents?
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.
Reduced Rx costs through 2031?! Check out the timeline
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…
Rx costs can be high on the front-end. The Medicare Prescription Payment Plan may help budget Rx costs at the pharmacy over the remainder of the calendar year.
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.
5 ways to get help with Medicare prescription drug costs.
Here are 5 tips to consider if you think you might need to get help with the costs of prescription drug coverage.