Who should, and shouldn’t, sign up for the new Medicare Prescription Payment Plan

Quick Summary:

Some Medicare beneficiaries may mistakenly believe enrolling in the Prescription Payment Program will reduce their drug costs.“This is not a cost-reduction program.

The health research group KFF estimates that 5 million Medicare beneficiaries with Part D plans had out-of-pocket prescription drug costs of $2,000 or more in at least one year between 2012 and 2021.

The Medicare Prescription Payment Program—or M3P as it’s been dubbed—was put into the Inflation Reduction Act of 2022 to help Medicare beneficiaries avoid being socked with steep drug costs during certain months of the year.

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Article Details

Author / Journalist: Richard Eisenberg

Category: EconomyBusiness

Markets: United StatesGeorgia

Topics: Medicare Health Aging Editor's Picks Elderly

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-14 @ 09:02:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 17 words

Reading Time: 1 minutes read

Sentences: 52 lines

Sentence Length: 1 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 23034831

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Official Website: fortune.com

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News Last Updated: 8 hours ago

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