What does the Inflation Reduction Act mean for you?

Stuart SchlossmanAccess to Care, Health Equity, National MS Society Related

 September 12, 2023

Last year, President Biden signed the Inflation Reduction Act into law. Many changes are going to occur between 2024 and 2025 that will allow Medicare beneficiaries to better afford their medications. Beginning in 2024, Medicare beneficiaries with Part D plans who are in the catastrophic coverage phase (meaning you have paid more than $7,400 in out-of-pocket costs for your prescription drugs) will no longer have to pay any co-insurance or copayment for their Part D medications.  Additionally, CMS has expanded the Low-Income Subsidy/Medicare Part D Extra HELP program so that benefits are fully available to beneficiaries in Medicare who earn less than 150% of the federal poverty level. 2025 will also bring additional changes to the Medicare Part D program. Beginning in January 2025, people with Medicare Part D will not have to pay more than $2,000 out-of-pocket for their Part D medications and will have the option to utilize the new Medicare Prescription Payment Plan to spread the cost of their Part D medications across the course of the year. The Center for Medicare and Medicaid Services (CMS) has published a timeline to keep beneficiaries up to date on the changes coming to Medicare. If you would like any additional information on how the changes to the Medicare program can benefit you specifically, please reach out to an MS Navigator. 

About Multiple Sclerosis

Multiple sclerosis is an unpredictable, often disabling disease of the central nervous system. Symptoms range from numbness and tingling to blindness and paralysis, and there is currently no cure for MS. The progress, severity and specific symptoms of MS in any one person cannot yet be predicted, but advances in research and treatment are leading to better understanding and moving us closer to a world free of MS. An estimated 1 million people live with MS in the United States. Most people with MS are diagnosed between the ages of 20 and 50, and it affects women three times more than men.

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