Making Medicare Part D More Affordable for Patients

The Issue

Medicare patients in the Part D prescription drug program often face significant out-of-pocket costs, especially early in the year while trying to meet their deductible. New changes to the Medicare Part D program could help.

Beginning in 2025, Medicare will cap out-of-pocket expenses for Part D medications at $2,000 per patient, per year. No patient will pay more than $2,000 out of pocket in combined expenses for all their medications during a single year.

In addition, Medicare patients may opt in to a new program that spreads out-of-pocket costs for Part D medications evenly throughout the year. Known as the Medicare Prescription Payment Plan, the program may help make prescription drug costs more manageable by breaking them into 12 equal monthly payments.

Patients can opt in during the open enrollment period, beginning October 15, 2024, or at any point thereafter. Learn more about the Medicare Prescription Payment Plan to decide if enrolling is the right decision.