Due to the Inflation Reduction Act there will be some significant changes to PDP (Prescription Drug Plans) upcoming for 2025.
Here are some of the most relevant changes that will take place
1. Your yearly Part D out-of-pocket costs will be capped at $2,000, starting in 2025. Currently it is a more complex and the average consumer would hit their max out of pocket typically between $3200 and $3800 in costs.
2. You’ll also have the option to pay out-of-pocket costs in monthly amounts over the plan year, instead of when they happen.
3. Your Medicare drug plan can’t charge you more than $35 for a one-month supply of each Part D-covered insulin, and you don’t have to pay a deductible.
4. We are anticipating pricing to increase on most plans
Please be on the lookout for your Annual Notice of Change, which should arrive in the mail between September 1st and September 30th, 2024