What's the Medicare Prescription Payment Plan?

What’s the Medicare Prescription Payment Plan?

The Medicare Prescription Payment Plan, introduced under the prescription drug law, complements your existing drug coverage to help manage out-of-pocket Medicare Part D drug expenses by distributing them throughout the calendar year (January–December). Beginning in 2025, this payment option will be available to all individuals with a Medicare drug plan or a Medicare Advantage Plan that includes drug coverage.

• • This payment option might help you manage your monthly expenses, but it doesn't save you money or lower drug costs.
  • Each month, you’ll continue to pay your health or drug plan premium (if you have one) and get a bill from your plan to pay for your prescription drugs (instead of paying the pharmacy).
  • Participating in this payment option is voluntary, and it doesn't cost anything to participate.

• • To participate you must contact your plan. 

Lower Your Costs

Numerous individuals are eligible for Medicare cost savings yet remain unaware. If your income and resources are limited, your eligibility for these programs is worth exploring.

• • Extra Help: A Medicare program that helps pay your Medicare drug costs. Visit ssa.gov/medicare/part-d-extra-help to find out if you qualify and apply.
  • Medicare Savings Programs: State-run programs that might help pay some or all of your Medicare premiums, deductibles, copayments, and coinsurance. Visit Kancare.ks.gov/apply-now to learn more and apply.

Medicare Beneficiaries, caregivers, and families can review Medicare coverage with SHICK-certified volunteers during the Annual Open Enrollment Period (October 15-December 7). For questions or to schedule an appointment, contact Joy Miller at 913-715-7000 or joy.miller@jocogov.org.

Sources: CMS Product No. 12211 09/2024

Joy Miller, Family and Community Wellness Extension Agent, October 2024