There are positive changes on the way for Medicare Part D. Medicare Part D covers outpatient prescription drug coverage and come January 1st, two major changes will ease drug costs for participants.
Chief Mission Officer of the PAN Foundation, Amy Niles, joined the WCUB Breakfast Club to speak on these changes taking effect at the turn of the year.
She told host Craig Dillon, “In 2025 you will not pay any more than $2,000 in out-of-pocket costs for your prescription medication, that is a big improvement.”
She also mentioned how big of a difference this will make every year as many on the Medicare Part D plan are used to paying thousands more out of pocket than the new $2,000 cap on prescription drugs.
The second change is a voluntary payment plan which would stretch out payments for Medicare Part D users throughout the calendar year.
Every individual is eligible for this payment plan, however, to benefit from this change one will have to opt in online or by calling.
While the changes are quite positive, there is one downside that Niles mentioned when it comes to those who they will affect.
“They know very little,” she said, “Unfortunately what we found was nine out of ten people are simply not aware that these changes are coming.”
With many not knowing it, these changes will save nearly 1 million Wisconsinites money on drug costs starting in 2025.
To hear the whole discussion with Amy Niles visit seehaferpodcasts.com.
