One of the many good provisions in the Inflation Reduction Act of 2022 (IRA) is the cap on out-of-pocket costs for all insulin drugs. The IRA limits out-of-pocket costs to no more than $35 per 30-day insulin prescription under all Medicare drug prescription plans. Plans also cannot charge a deductible for insulin. This means that a 60-day supply would be no more than $70, … [Read more...] about Understanding New Rules Regarding Insulin Costs & Rights to Switch Plans
Learn How the Inflation Reduction Act of 2022 Will Significantly Reduce Drug Costs
Last month Congress passed the historic Inflation Reduction Act of 2022. Some of the many significant pieces of this legislation are a plethora of Medicare prescription drug reforms and protections to shield people from high drug costs. This is great news, and the changes coming will help lower prescription drug costs for all people on Medicare, and especially older adults with … [Read more...] about Learn How the Inflation Reduction Act of 2022 Will Significantly Reduce Drug Costs
Draft Bill Provides Needed Prescription Drug Pricing Reform
In early July, the Senate Finance Committee drafted legislation to help address the burdensome, high prescription drug prices affecting Medicare beneficiaries, and aims to have it passed through the upcoming reconciliation process. This legislation would allow Medicare to negotiate drug prices, cap beneficiary out-of-pocket costs to $2,000 annually starting in 2025, and … [Read more...] about Draft Bill Provides Needed Prescription Drug Pricing Reform
Don’t Believe the Lies ~ Medicare Drug Negotiations Savings Would Be ReInvested for More Medicare Benefits
Much to pharmaceutical companies' benefit, Medicare has been barred from negotiating for the lowest drug prices when paying for the Part D prescription drug benefit. This translates to unnecessarily higher costs for both beneficiaries and Medicare. Currently both the House and Senate are looking at various proposals that would give Medicare drug price negotiation power. One is … [Read more...] about Don’t Believe the Lies ~ Medicare Drug Negotiations Savings Would Be ReInvested for More Medicare Benefits
Biden Administration Rescinds Proposed Part D Changes That Would Have Weakened Access to Essential Medications
Last month, the Biden Administration rescinded proposed Part D changes by the former administration that would've restricted people's access to important categories of drugs, such as antidepressants and immunosuppressants. The Trump Administration made these changes on January 19, one day before Biden's inauguration. The proposed changes pertained to Part D demonstration … [Read more...] about Biden Administration Rescinds Proposed Part D Changes That Would Have Weakened Access to Essential Medications
