While Medicare recipients have been enjoying lower premium rates for Part D drug coverage, several new developments may change that in the future. Although plan specifics cannot be released until Oct. 1st,Medicare has announced some notable changes. First, there is the “Cures Act” just passed by Congress that gives those with ESRD the right to enroll in plans designated for those with kidney failure. This will be the first time those beneficiaries these plans will be available. Also, there will be a much needed $35.00 cap on Insulin prescriptions, just announced by CMS. These changes alone could add to beneficiaries’ costs, but muddying the waters are three recent Presidential executive orders that could also negatively affect consumers according to an article published in a Healthpayer Intelligence news release.
The so-called “Rebate Rule” would restrict the ability of Pharmacy managers to obtain medications from foreign sources which could result in large savings. In addition, $100 billion is slated for drug makers as a “bailout”. There is much disagreement as to what these changes could bring. According to the American Health Institute Providers (AHIP) Medicare part D premiums could escalate as much as 25%, and we could see our current part D budget of 2.7 billion soar to about 7.9 billion by 2029. All this means more money out of our pockets for premiums and prescription medication. Let me know your comments by emailing me at firstname.lastname@example.org