|
The Inflation Reduction Act (IRA) was signed into law in 2022. Key components for 2025 include:
- Medicare Prescription Payment Plan: Ability to pay out-of-pocket costs in monthly payments spread over the year
- Reduced out-of-pocket maximum of $2,000
- Elimination of the Coverage Gap or "donut hole"
The Centers for Medicare & Medicaid Services (CMS) recently published a new public-facing website with tools to help beneficiaries determine if the Medicare Prescription Payment Plan is right for them. The website contains examples of how monthly payments will be calculated and information on how to sign up for the Payment Plan.
CMS also created Patient Fact Sheets and Take Away Cards to help beneficiaries understand how the Payment Plan can help them control their medication costs.
Click here for an overview of important changes for Medicare in 2025, including an implementation timeline of the IRA and frequently asked questions.
Please note: CMS is still defining details regarding the Medicare Prescription Payment Plan implementation. AlignRx will continue to provide information as it becomes available.
|