CMS has published the final part two guidance regarding plan outreach and education for the Medicare prescription payment plan, which aims to ensure that people with Medicare prescription drug coverage are aware of the payment option.
Beginning in 2025, the MPPP will allow those with Medicare prescription drug coverage to spread the costs of their prescription drugs over the calendar year rather than paying in full at the pharmacy counter each time they fill a prescription.
Medicare beneficiaries must opt into the MPPP to use the new benefit.
The payment option launches at the same time that all individuals with Medicare prescription drug coverage will begin to have their annual out-of-pocket prescription drug costs capped at $2,000.
"This new payment option provides people with high Rx spending the option to spread out the costs of their prescription drugs over the calendar year and eliminate the burden of paying the total out-of-pocket cost upfront," CMS Administrator Chiquita Brooks-LaSure said in a July 16 news release. "CMS is continuing to implement the many important provisions of the Inflation Reduction Act to help people with Medicare access the prescriptions they need."
Click here for more details on the guidance.