The Centers for Medicare & Medicaid Services (CMS) released “Medicare Prescription Payment Plan” resources related to the Inflation Reduction Act’s new payment option to help anyone with a Medicare drug plan or Medicare health plan manage out-of-pocket costs for drugs covered under their plan by spreading payments across the calendar year.
These resources are for Part D Medicare sponsors to share with enrollees to help them determine if the payment option might help them and include: (1) a webpage that explains the Medicare Prescription Payment Plan and provides a response tool to help Part D enrollees determine if the payment option might help them; (2) a fact sheet in English and Spanish (among other languages); and (3) a takeaway card in English and Spanish (among other languages).
Additionally, CMS is developing a cost preview inside of the Medicare Plan Finder that is based on a consumer’s specific drug list, a set of consumer-selected Medicare Advantage or Part D plans, and consumer-selected pharmacies, including both retail locations and mail order options. This cost preview will be made available in time for open enrollment in the fall.