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What does the Inflation Reduction Act mean for you?

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 disease of the central nervous system. Currently there is no cure. Symptoms vary from person to person and may include disabling fatigue, mobility challenges, cognitive changes, and vision issues. An estimated 1 million people live with MS in the United States. Early diagnosis and treatment are critical to minimize disability. Significant progress is being made to achieve a world free of MS.

About the National Multiple Sclerosis Society

The National MS Society, founded in 1946, is the global leader of a growing movement dedicated to creating a world free of MS. The Society funds cutting-edge research for a cure, drives change through advocacy and provides programs and services to help people affected by MS live their best lives. Connect to learn more and get involved: nationalMSsociety.org, Facebook, X, formerly known as Twitter, Instagram, YouTube or 1-800-344-4867.

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© 2024 The National Multiple Sclerosis Society is a tax exempt 501(c)3 nonprofit organization. Its Identification Number (EIN) is 13-5661935.