Administration trying to hide Part D price increases

[somarco]

FWIW, I have a few clients on VERY expensive meds. In the past I suggested a higher premium plan ($50+) in order to gain the lower copays and lower total cost.

But thanks to the clowns in Congress and the IRA, several clients enrolled in the $0.50 Wellcare plan and capped their Rx copay at $3300 for the year.

Maybe next year their OOP will cap at $2,000 and we still won't need the overpriced AARP/UHC plans.

 

[dandan]

The Democrat party is a clown show, if you are 18-22 yrs old, I might would understand your ignorance but anybody older has no excuse!

 

[Russ]

The Democrat party is a clown show, if you are 18-22 yrs old, I might would understand your ignorance but anybody older has no excuse!

A lot of ignorance in the country then..from FOX News

 

[straightnochaser]

A lot of ignorance in the country then..from FOX News

He's so cooked… good ***ing riddance

 

[LeeV]

Thanks Joe for lowering prescription charges on those 10 meds. Everybody takes Eliquis, in my years of writing PDP plans.

Thanks for capping OOP at $2,000.

Everyone should thank President Biden for those accomplishments.

Russ. Thank him for what? Those prices outlined in this monumental move are the same, or in some instances higher, than what we have been doing for our clients for a few years now. Funny how people will fall for anything without researching it.

 

[Russ]

Russ. Thank him for what? Those prices outlined in this monumental move are the same, or in some instances higher, than what we have been doing for our clients for a few years now. Funny how people will fall for anything without researching it.

The cap is $2,000. That was created under the Inflation Reduction Act of 2022.

Was there that small of a cap before?

From KFF... [EXTERNAL LINK] - Changes to Medicare Part D in 2024 and 2025 Under the Inflation Reduction Act and How Enrollees Will Benefit | KFF

"

Out-of-pocket drug spending will be capped at $2,000

Beginning in 2025, Part D enrollees' out-of-pocket drug costs will be capped at $2,000. This amount will be indexed to rise each year after 2025 at the rate of growth in per capita Part D costs. (This cap does not apply to out-of-pocket spending on Part B drugs.)


For Part D enrollees who take only brand-name drugs, annual out-of-pocket costs at the catastrophic threshold will fall from around $3,300 in 2024 to $2,000 in 2025 (Figure 3). In other words, Part D enrollees who take only brands and have drug costs high enough to reach the catastrophic threshold could see savings of about $1,300 in 2025 relative to what they will spend in 2024. "

 

[Yagents]

Give me one example where the govt got involved in pricing and the prices actually went down? (Without taxpayers $$)

 

[Millwood]

The cap is $2,000. That was created under the Inflation Reduction Act of 2022.

Was there that small of a cap before?

From KFF... [EXTERNAL LINK] - Changes to Medicare Part D in 2024 and 2025 Under the Inflation Reduction Act and How Enrollees Will Benefit | KFF

"

Out-of-pocket drug spending will be capped at $2,000

Beginning in 2025, Part D enrollees' out-of-pocket drug costs will be capped at $2,000. This amount will be indexed to rise each year after 2025 at the rate of growth in per capita Part D costs. (This cap does not apply to out-of-pocket spending on Part B drugs.)


For Part D enrollees who take only brand-name drugs, annual out-of-pocket costs at the catastrophic threshold will fall from around $3,300 in 2024 to $2,000 in 2025 (Figure 3). In other words, Part D enrollees who take only brands and have drug costs high enough to reach the catastrophic threshold could see savings of about $1,300 in 2025 relative to what they will spend in 2024. "

Ok Russ you went into detail how this will help maybe 5% on Part D with high drug costs. Now go into the same detail how it affects the other 95% . Bet the other 95% their costs double or triple.

 

[sman]

Give me one example where the govt got involved in pricing and the prices actually went down? (Without taxpayers $$)

My prediction is if the law stays as is, within 3 years we will see a reduction in the number of people enrolled in Part D. People taking 2-3 generic medications aren't going to pay $50-$100 per month for a Part D premium.

 

[Russ]

Ok Russ you went into detail how this will help maybe 5% on Part D with high drug costs. Now go into the same detail how it affects the other 95% . Bet the other 95% their costs double or triple.

Using myself as an example....I take 9 meds. Have a UHC HMO-POS MAPD plan. Pay nothing for the insurance. 8 meds are generic. 1 brand. Nothing will change in 2025. 8 are free. The other is calcium acetate. Brand. Actual cost is less than the copay.

Now those on PDP's. Yes they will likely pay more. Waiting on all of the rollouts, including premiums.

Knowing the cap is $2,000 helps quite a bit for those on several brand named drugs. I'm happy for them.