Older adults may struggle to afford the out-of-pocket cost of prescription drugs that are key for their health. New for 2025, the Medicare Prescription Payment Plan is an optional program that allows Medicare beneficiaries with outpatient pharmacy coverage to spread out their prescription drug costs over the remainder of the plan year. This free program gives beneficiaries the option to pay their out-of-pocket prescription drug costs in monthly installments, rather than paying in full at the pharmacy counter. With no interest or fees, this program will make it easier for millions of older adults to access and keep taking important prescription drugs.
Anyone with a Medicare drug plan or Medicare health plan with drug coverage, such as a Medicare Advantage Plan with drug coverage, can take part in this program to proactively manage their prescription costs and better budget for future payments.
Who’s eligible?
Anyone on Medicare with outpatient prescription drug coverage
Benefits:
- Spread prescription payments over time ☑️
- NO limit to the number of prescriptions covered ☑️
- Pay prescription drug costs monthly, rather than in full at the pharmacy ☑️
- Better budget for future payments ☑️
- It’s free! ☑️
Enrollment begins: October 15, 2024 | Plan takes effect: January 1, 2025
How to Enroll:
You can opt into the program at any time during the plan year although it’s best to opt-in early to avoid delays. To do so, contact your prescription drug coverage plan sponsor and complete the Medicare Prescription Payment Plan election process, which can be done online, by mail, or over the phone.
Opt-in Today!
