Medicare Part D Payment Plan | Everything you need to know!

The Inflation Reduction Act is set to bring the new Medicare Part D Payment Plan in 2025, and it might raise some questions for you.

In today’s video, Danielle will walk you through the Payment Plan, helping you understand what it means for your prescription drug coverage. Whether you're enrolling for the first time or reviewing your current Part D in 2025, this information is helpful for everyone!

00:00 Introduction
00:31 What is the Part D Payment Plan?
00:50 What Plans Are Included?
01:26 How Does It Work?
02:20 What Is Excluded?
02:44 IMPORTANT INFORMATION!
03:25 Extra Help For Part D

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[meet-jamie]

Thank you, Danielle, for providing such a clear and detailed explanation of the new Medicare Part D Payment Plan under the Inflation Reduction Act. Changes like these can be overwhelming, but the way you broke everything down really helps make sense of what’s coming in 2025. This information is incredibly helpful for anyone trying to understand how their prescription drug coverage will be affected. I appreciate you making it easier to navigate these important updates!

[dennisdoke]

Remember the old rule - just sign it into law and read the fine print and details later. Just be happy you can go into debt and then you can afford(?) to keep patiently paying high prescription costs. What a deal. 😮

[morrismonet]

So, part D plans will be raising plan fees even more than usual in January to cover the costs of implementing.

[mark]

WAit until you see the premium cost for part D.

[tomm]

Leave it to the federal government to make things SO much more complicated. Also, the $2, 000 OOP limit will no doubt reek havoc on Part D premiums in 2025. Looking forward to getting my ANOC for my 50c Part D plan from W.

[paulstein]

Thank you Danielle! This payment plan is news to me. I’ll be interested to learn more about it, including if there are any fees or interest charges to use this program. I imagine that insurance plans won’t do this for free and will find a way to pass on the cost of the payment plan.

[cheezit]

This is good news if you ask me, but more improvements to this part D are needed.

[arthurcgans]

In preparation for changes they more than doubled our monthly payments this year.

[sclufer]

Question regarding the $2000 cap. If a prescribed drug is not on the Part D plan formulary list and I pay full price for the medication at the pharmacy does that count towards the $2000 cap?

[mikear]

Wow! In all this it looks like my monthly payment on my current provider is going up 500% from $9 to $45---and I haven't had a prescription filled this year! WOW, fun!

[debsimb]

hi where can i find a COMPLETE formulary list of covered drugs? Am I to understand that I do NOT need a part d plan at all in 2025? if I do not have a plan how are my costs kept up with?

[lloydtabary]

While this person makes it sound so good she makes no mention of the major increases in plan premiums this will cause. Too bad she doesn’t have to face that along with the increases burden that the patient will be saddled with. ITS NOT THAT ROSEY!

[kevinthec]

So, is the insurance company charging interest or fees on this payment plan?

[merakiAnart]

SO my medicines would be covered in 2025 if I just continue the same Part D, and they were not in 2024, but the Premium will go up TEN TIMES! the medicines were only about $160 for the year; The total cost (drugs + Premium) has now DOUBLED. That is what it comes to when you do not have 'expensive drug needs'. Very unhappy. What about Part D in Medicare Advantage? hard to find information, it all redirects me to plans I know about, those now-costly ones.

[marct]

Eh, my maintenance medications for blood pressure and cholesterol only cost me either a zero or $15 copay for 90 days therapy with WellCare Part D. I hope they don't jack up my monthly premium to offset this new $2, 000 out of pocket maximum.

[sclufer]

There are soooo many unknowns. What happens if the patient fails to pay the monthly payment or if the patient passes away before the medication is paid in full? Will the insurance company be held liable or will the government repay the insurance company for nonpayment? I can see more increases in Part D premiums in the future. Typical government nonsense….

[Suzen_S.]

You are the only one telling us you can opt in or not. My husband is still working full time at 75?and has excellent heath insurance through his employer. He has Medicare Part A (as required) and is on no medications. Our insurance has a max out of pocket for health and Rx combined of 4K for individual. I understood since this new change only has a 2K out of pocket for RX he would need to get on Part D. Is this correct? Thank you

[stevea]

Next we will have to take out a mortgage

[ginainga]

I have LIS will i get to keep my LIS for part D in 2025 with this new nonsense payment plan ?

[AzaleaLala]

Thank you Pres. Biden for getting my Trulicity down to $35 a month.