The Inflation Reduction Act and Medicare
The Inflation Reduction Act and Medicare
The article below is public information found on CMS.gov.
To read the original content, click here.
The Inflation Reduction Act and Medicare
The Inflation Reduction Act provides meaningful financial relief for millions of people with Medicare by improving access to affordable treatments and strengthening the Medicare Program both now and in the long-run.
The new drug law makes improvements to Medicare that will expand benefits, lower drug costs, keep prescription drug premiums stable, and improve the strength of the Medicare program.
The Inflation Reduction Act will cause massive disruption in the Medicare Advantage and PDP space. If you treat this AEP like previous years, you will lose out on MAJOR opportunities. Only agents who are truly prepared will survive. |
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People with Medicare will benefit from lower prescription drug costs and a redesigned prescription drug program.
Insulin available at $35 per month per covered prescription
Access to recommended adult vaccines without cost-sharing
A yearly gap ($2,000 in 2025) on out-of-pocket prescription drug costs in Medicare
Expansion of the low-income subsidy program (LIS or “Extra Help”) under Medicare Part D to 150% of the federal poverty level starting in 2024
Medicare will be able to negotiate directly with drug manufacturers to lower the price of some of the costliest single-source brand-name Medicare Part B and Part D drugs. This means that people with Medicare will have increased access to innovative, life-saving treatments, and the costs will be lower for both them and Medicare.
Medicare will be able to negotiate directly with drug manufacturers to lower the price of some of the costliest single-source brand-name Medicare Part B and Part D drugs. This means that people with Medicare will have increased access to innovative, life-saving treatments, and the costs will be lower for both them and Medicare.
Medicare will be able to negotiate directly with drug manufacturers to lower the price of some of the costliest single-source brand-name Medicare Part B and Part D drugs. This means that people with Medicare will have increased access to innovative, life-saving treatments, and the costs will be lower for both them and Medicare.
For more information, please see CMS.gov or call us today at (800) 689-2800!
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Sources:
https://www.cms.gov/inflation-reduction-act-and-medicare
https://www.cms.gov/inflation-reduction-act-and-medicare/changes-medicare-part-b
https://www.cms.gov/inflation-reduction-act-and-medicare/inflation-rebates-medicare
https://www.cms.gov/inflation-reduction-act-and-medicare/medicare-drug-price-negotiation
https://www.cms.gov/inflation-reduction-act-and-medicare/part-d-improvements
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