Part D improvement Lower out-of-pocket drug costs

[JustAGuy1]

• 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.

Saving money with the prescription drug law

A new prescription drug law that went into effect January 1, 2023, will help save money for people with Medicare.

www.medicare.gov

It's a good thing but it will play hell with the Budget.

 

[dblack]

• 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.

Saving money with the prescription drug law

A new prescription drug law that went into effect January 1, 2023, will help save money for people with Medicare.

www.medicare.gov

It's a good thing but it will play hell with the Budget.

Free shit!!!!!

 

[Harry Dresden]

• 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.

Saving money with the prescription drug law

A new prescription drug law that went into effect January 1, 2023, will help save money for people with Medicare.

www.medicare.gov

It's a good thing but it will play hell with the Budget.

you mean part D.....part B doesnt cover drugs...

 

[Harry Dresden]

Free shit!!!!!

its not free you pay for it....

 

[dblack]

its not free you pay for it....

Nope. Someone else does. That's the point of free shit.

 

[okfine]

I believe generics on the list are only $1.55 and brand names are $4.50.

 

[Harry Dresden]

Nope. Someone else does. That's the point of free shit.

really?....so that money they have been taking out of my check for all these years for medicare is for something else?..

 

[JohnDB]

• 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.

Saving money with the prescription drug law

A new prescription drug law that went into effect January 1, 2023, will help save money for people with Medicare.

www.medicare.gov

It's a good thing but it will play hell with the Budget.

Meaning the premiums are now more than your SS check every month. Many boomers get around $600/month....these sorts of increases are not going to work for our Senior citizens. Especially ones who have gone through their retirement savings due to inflation and "life" expenses.

 

[dblack]

really?....so that money they have been taking out of my check for all these years for medicare is for something else?..

If we're paying less for drugs than we would be otherwise, somebody is soaking up that cost. Unless you're saying premiums will go up to compensate. I'm which case, why bother?

 

[Harry Dresden]

If we're paying less for drugs, somebody is soaking up that cost. Unless you're saying premiums will go up to compensate. I'm which case, why bother?

nothing has changed for me....im still paying the same,,,,so were are we paying less?...

 

[dblack]

nothing has changed for me....im still paying the same,,,,so were are we paying less?...

You're paying less than market. If government is capping prices, someone is paying for it. But it's not you, so that makes it ok.

 

[Harry Dresden]

You're paying less than market. If government is capping prices, someone is paying for it. But it's not you, so that makes it ok.

am i?....i have been paying $25.00 for my Tresiba insulin,which is considered the Cadillac of insulins without govt help for about 7-8 years now ......it costs like 300 bucks a pen....so my doctor sent a form to my evil ins com.who lowered it to 50.00 bucks and the evil out for profit drug company sent me a 25.00 dollar off coupon lowering it to 25.00 a month....the govt wasnt involved...and yea if i am not paying for it and these companies want to do this for me....yea its ok....

 

[dblack]

am i?....i have been paying $25.00 for my Tresiba insulin,which is considered the Cadillac of insulins without govt help for about 7-8 years now ......it costs like 300 bucks a pen....so my doctor sent a form to my evil ins com.who lowered it to 50.00 bucks and the evil out for profit drug company sent me a 25.00 dollar off coupon lowering it to 25.00 a month....the govt wasnt involved...and yea if i am not paying for it and these companies want to do this for me....yea its ok....

Aka free shit.

 

[Harry Dresden]

Aka free shit.

oh so you would turn things down and say you will pay for it right?....give me a fucking break black...

 

[dblack]

oh so you would turn things down and say you will pay for it right?....give me a fucking break black...

No one turns down "free shit". That's why politicians promise more "free shit" whenever they need more votes.

 

[Harry Dresden]

No one turns down "free shit". That's why politicians promise more "free shit" whenever they need more votes.

does that include you?.....

 

[dblack]

does that include you?.....

Sure. I'll take whatever free shit is offered, as long as there are no strings attached. But I won't vote for politicians that promise free shit. Because ultimately, it's not free. Someone gets stuck with the tab.

 

[Harry Dresden]

Sure. I'll take whatever free shit is offered, as long as there are no strings attached. But I won't vote for politicians that promise free shit. Because ultimately, it's not free. Someone gets stuck with the tab.

well you should clarify things....i thought you were saying medicare is free....

 

[dblack]

well you should clarify things....i thought you were saying medicare is free....

We pay for it, in the form of taxes and/or premiums. But the whole sales pitch of insurance is that you'll get more than you pay in. That's why people do it. They think it makes health care "affordable". But in reality, it makes it more expensive. It just shifts the cost onto others.

You highlighted it, at the end of the OP. "It will play hell with the Budget." Which means it will only add to the debt and shift the cost to future generations. But people like their free shit and don't mind if someone else has to pay for it.

 

[Harry Dresden]

We pay for it, in the form of taxes and/or premiums. But the whole sales pitch of insurance is that you'll get more than you pay in. That's why people do it. They think it makes health care "affordable". But in reality, it makes it more expensive. It just shifts the cost onto others.

You highlighted it, at the end of the OP. "It will play hell with the Budget." Which means it will only add to the debt and shift the cost to future generations. But people like their free shit and don't mind if someone else has to pay for it.

i dont listen to what politicians say,,,,the shit about capping insulin at 35.00 is misinformation....its only for people on part D...