Medicare Prescription Payment Plan

The Medicare Prescription Payment Plan is a new program required under the Inflation Reduction Act. The purpose of the new payment option is to spread prescription drug costs throughout the year. Part D enrollees and enrollees in the Medicare Advantage plans that have drug coverage will have the option of spreading their outof-pocket costs over the calendar year (January – December) rather than face high out-of-pocket costs in any given month. Enrollees who select this payment option will pay ~~FIRSTPARAGRAPHTAG~~ to the pharmacy for covered drug costs, and plan sponsors will then bill program participants monthly for any cost sharing they incur while in the program.

Medicare Part D prescription drug coverage and Medicare Advantage participants will also have the added advantage of a $2,000 out-of-pocket cap and the elimination of the infamous “donut hole” coverage gap.

If you have any questions or would like to make an appointment, Lynn Hixon, the SHIP (state health insurance assistance program) coordinator, is ready to assist you at 256-845-8590 at the DeKalb County Council on Aging.