Inflation Reduction Act - Medicare Part D Impacts

A few weeks ago, I created a video of some preliminary impacts in a DRAFT of the Inflation Reduction Act. Now that the bill is finalized, this video explains the changes that actually made it into the final bill and the impacts to Medicare Prescription Costs.

There are seven key areas covered in this brief video:

(1) $35/month Insulin (extended)
(2) Vaccine Cost Sharing (starting 2023)
(3) Part D Premium Stabilization (starting 2024)

(4) Part D Benefit Levels (starting 2024)
(5) Annual Max out of Pocket (starting 2025)
(6) Monthly Max out of Pocket (starting 2025)

(7) Drug Price Negotiation (starting in 2026)

To learn more:

Or you can call us -
908-272-1970 (Cranford Office)
856-866-8900 (Moorestown Office)

[Martinit]

5:00 So Who pays what in Step 3? You show member pays $0, but who picks up the tab and how much is it?

[Wog]

This make some sense, not all sense. The fundamental principle of insurance is that the larger the pool the better. Here, federal program of part A and B is handled federally (largest pool of all seniors) but supplement, advantage and part D is at local county level. Could that be dumber than that? Part D prices is another s*** show. These people are putting AWP prices that is only on paper, no body buy/pay for it. For decades old but widely used drugs are charged upto 20 times as copy on the plans with most expensive premiums. This is a legalized, day light robbery. On top of it, fed is giving these insurance companies $12000 per year/patient. Is this the smart people of smart country is doing to its people and they are voting for it? 🤔 WOW!🤔