LULAC - Changes to Medicare Part D
Save Money on Your Medicines with Medicare Part D & Take Control of Your Budget!
Have you heard about the new Medicare Prescription Payment Plan? Starting January 1, 2025, this program lets you spread out the cost of your prescription drugs over the calendar year, making it easier to manage your expenses. Please click here to check out our Fact Sheet.
You May Qualify If:
1. Your drug costs last year were over $2,000
2. You have steady and high out-of-pocket drug costs
How Can Medicare Members Join?
Medicare users can sign up at any time in one of the three ways:
Telephone (calling your plan)
Paper (filling out a “election request form”)
Website (elect through your health plan’s website).
FAQ and Additional Info
How does this program work?
If you choose to participate in this program, you will pay $0 for your prescription at the pharmacy. Instead, you will be billed by your health or drug plan, both for your premium (if applicable) and also for your share of total prescription cost- sharing, spread over the calendar year. Even if your payment is late, you will not pay any interest or fees under the Medicare Prescription Payment Plan. For example, instead of paying $2000 at once for a drug prescription in January, you would split that payment up over the next calendar year (12 months).
Are there any exceptions?
You may not benefit if:
- You receive Extra Help from Medicare
- You qualify for a Medicare Savings Program
- You get help paying for your prescription medications from other organizations, such as a State Pharmaceutical Assistance Program or other assisted health coverage
If I don’t opt-in?
The new out-of-pocket cap in Medicare Part D caps out-of-pocket medicine spending for everyone insured under Medicare at $2,000 starting in 2025. As a result, you won’t pay more than $2,000 in total out of pocket in 2025 for your prescription drugs, even if you do not opt into the Medicare Prescription Payment Plan.
Can I leave the program?
You can end your Medicare Prescription Payment Plan at any time! However, you will still need to pay any remaining balance owed under the program once you end your participation.
Where can I learn more?
Visit Medicare.gov/prescription-payment-plan, or call 1-800-MEDICARE (1-800-633-4227)