(C) Daily Montanan
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Lower prescription drugs costs are here (and more are on their way) – Daily Montanan [1]

['More From Author', 'January', 'Lily Griego']

Date: 2024-01-26  

As a regional director at the U.S. Department of Health and Human Services, I have traveled all over Montana hearing from residents struggling to afford medicines they need to remain healthy, thriving members of their communities.

Throughout my time in this role, I remember hearing stories from concerned Montanans whose health suffered because they had to choose to pay for rent and groceries instead of needed medications. No one should have to make choices like that.

That’s why I am proud to have made three trips to Montana in 2023 discussing the President’s new lower cost prescription drug law, which is already putting money back in the pockets of seniors and other people on Medicare by making recommended, preventive vaccines available free of charge and capping costs at $35 per covered insulin product for more than 54,000 people with Medicare Part D in Montana.

These benefits are just the first parts of the law to be implemented, there are more savings on the way this January.

I know the new year can often bring overwhelming financial challenges to families who face high deductibles or other up-front health costs, which is why I want to make sure Montanans know about two new benefits that can provide more breathing room to the more than 54,000 Montanans with Medicare Part D, the prescription drug benefit for Medicare enrollees.

First, this January, Medicare is expanding its Extra Help program for Part D, which means millions more people on Medicare may be eligible for $0 premium, a $0 deductible, and drug copays as low as roughly $4. Nearly 300,000 low-income people with Medicare currently enrolled in the Extra Help program will benefit from the program’s expansion and up to 3 million seniors and people with disabilities could benefit from the Extra Help program now but aren’t currently enrolled. Some people who already receive help paying for their Medicare costs are automatically enrolled in Extra Help, but that’s not true for everyone.

Applying is easy. Go to Medicare.gov/extrahelp or call 1-800-772-1213 to see if you are eligible.

For some with conditions like cancer, a single medication can cost thousands of dollars. Until now, these costs have not been limited in Medicare Part D, with some patients reaching tens of thousands of dollars in annual drug costs. But beginning on Jan. 1, for the first time ever, patients with high costs will no longer be required to pay out of pocket costs once they reach a certain level of spending known as the catastrophic phase of Medicare Part D. That means more money back in the pockets of Montanans, helping to ensure that all Montanans can retire with peace of mind and still have money to live a comfortable life.



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[1] Url: https://dailymontanan.com/2024/01/26/lower-prescription-drugs-costs-are-here-and-more-are-on-their-way/

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