Making Sense of Medicare: Part D Reform


Were you aware of the new Medicare Part D reform that placed a cap of around $3,300 on prescription out-of-pocket costs for all Medicare Part D drugs starting in January 2024? 

Once this max is met your prescription out-of-pocket costs will be zero for the remainder of the calendar year.   You do not need to keep track of this amount as your Part D carrier will do it for you.   You can review your monthly summary of benefits to see what amount has been paid year-to-date each month.  In 2025 the Out-of-Pocket max will fall to $2,000.00.  Starting in 2025, Part D enrollees may spread out their out-of-pocket costs over the year rather than face high out-of-pocket costs in any given month.  More details on how this will work will be released later.

Our knowledgeable Insurance Specialists offer a variety of free Medicare classes and workshops, throughout the year at SourcePoint and off-site locations. SourcePoint is a non-profit organization that provides unbiased information about Medicare so you can make informed decisions when choosing your coverage. All classes are free. No sales or promotions are involved. We do not represent or sell insurance products. For more information and to register for an upcoming workshop, please call 740-363-6677 or enroll here.

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