Lower out-of-pocket drug costs You might pay a lower coinsurance amount for certain drugs and biologicals covered by Part B, if their prices have increased higher than the rate of inflation. The specific drugs and potential savings change every qua… Read on blog or Reader QUINNSCOMMENTARY Read on blog or Reader A reminder- Medicare drug changes 2024-2025 rdquinn June 1 Lower out-of-pocket drug costs You might pay a lower coinsurance amount for certain drugs and biologicals covered by Part B, if their prices have increased higher than the rate of inflation. The specific drugs and potential savings change every quarter. If you have drug costs high enough to reach the catastrophic coverage phase in your Medicare drug coverage, you won't have to pay a copayment or coinsurance, starting in 2024. Extra Help affording prescription drug coverage (the Part D Low-Income Subsidy (LIS) program) will expand to cover more drug costs for people with limited resources who earn less than 150% of the federal poverty level, starting in 2024. People who qualify for Extra Help generally will pay no more than $4.50 for each generic drug and $11.20 for each brand-name drug. Your yearly Part D out-of-pocket costs will be capped at $2,000, starting in 2025. You'll also have the option to pay out-of-pocket costs in monthly amounts over the plan year, instead of when they happen. If the price of a drug covered by Part B (Medical Insurance) increased faster than the rate of inflation, you might pay less than 20% coinsurance for that drug. The specific drugs that are impacted and the potential savings may change every quarter. Get more information about Part B-covered drugs. Source: Medicare.gov Comment Like You can also reply to this email to leave a comment.

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