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Medicare changes on the horizon. ... Correction: October 22, 2024 — An earlier version of this article misstated the number of plans affected by prescription drug coverage cancellations. The ...
Beginning in 2025, Medicare prescription drug plans must offer enrollees the option to spread their out-of-pocket prescription drug costs into monthly payments throughout the year, instead of ...
The new $2,000 out-of-pocket cap on prescription drugs covers everyone with a Medicare Part D plan, which is the section of Medicare that covers most pharmaceutical products.
Enroll in a Medicare Prescription Drug Plan at Medicare.gov, the web-based tool for enrolling online in a Part D plan. Official Medicare publications at Medicare.gov, includes official publications about the Part D benefit. Medicare & You handbook for 2006 at Medicare.gov, includes information about the Part D benefit.
The health research group KFF estimates that 5 million Medicare beneficiaries with Part D plans had out-of-pocket prescription drug costs of $2,000 or more in at least one year between 2012 and 2021.
These programs were known as "Medicare+Choice" or "Part C" plans. Pursuant to the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, the compensation and business practices for insurers that offer these plans changed, and "Medicare+Choice" plans became known as "Medicare Advantage" (MA) plans.
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