The Centers for Medicare and Medicaid Services (CMS) has announced that beginning in 2025, subscribers to Medicare Part D will have the option to pay their out-of-pocket prescription drug costs over a year using a monthly installment plan.
CMS said it will develop tools to help beneficiaries decide if the program will be helpful. Although the program will not reduce overall out-of-pocket costs, spreading the costs throughout the year can help ease some of the payment burden, according to the CMS announcement. Additionally, beneficiaries will owe nothing upfront when picking up medication at the pharmacy.
TSCL will provide further information about this new program as more information becomes available.
