We Thrive Together Medicare Agency

The U.S. Department of Health and Human Services announced that from July 1 to September 30, 2024, Medicare enrollees will pay less for 64 drugs under Medicare Part B due to price hikes exceeding inflation. Over 750,000 beneficiaries who use these medications for conditions like osteoporosis, cancer, and infections will benefit. The Inflation Reduction Act ensures that seniors are protected from Big Pharma's price hikes, saving them between $1 and $4,593 per day. Notable savings include $1,181 for Padcev and $765 for Crysvita. The act also expands the Low-Income Subsidy program and caps out-of-pocket costs for Medicare Part D enrollees. The rebates drug companies pay will support Medicare's sustainability.

Amazon Pharmacy has expanded RxPass to include Medicare beneficiaries. This service, exclusive to Prime members, offers unlimited access to 60 prescription medications for $5 per month, with free delivery. The program aims to improve medication adherence and reduce healthcare costs. Medicare beneficiaries could save approximately $70 per year, potentially reducing Medicare spending by nearly $2 billion. RxPass includes medications for over 80 common conditions, providing significant savings and convenience for users. https://lnkd.in/ga4-dt7r

"Financial toxicity" from high out-of-pocket costs is a major issue for cancer patients, causing both economic and emotional stress. The Inflation Reduction Act of 2022 addresses this by capping annual out-of-pocket spending on outpatient drugs at $2,000 for Medicare beneficiaries starting in 2025. This change will provide significant savings for those on high-cost medications, potentially benefiting millions of enrollees. However, it also raises questions about increased premiums and the overall structure of Medicare Part D. https://lnkd.in/gVQaDj3b

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