Insulin users get a big break, too
Were coming up on fall and that means vaccine time for many people, especially seniors. Medicare reminds its subscribers that in addition to flu shots, COVID-19 vaccines, and pneumococcal shots, Medicare Part D covers these vaccines and more at no cost to you:
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Shingles
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Tetanus, diphtheria, and pertussis (whooping cough) (Tdap)
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RSV
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Hepatitis A
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Hepatitis B, if you're at low risk for the virus
A new prescription drug law that went into effect January 1, 2023, designed to help Medicare enrollees save extra money. In addition to cutting out-of-pocket expenses on vaccines, the agency has also gone to bat for insulin users.
Part D insulin costs
With the new law in place, your Medicare drug plan can't charge you more than $35 for a one-month supply of each Part D-covered insulin, and you dont have to pay a deductible. With this plan, youll pay $35 (or possibly less) for a one-month supply of each Part D-covered insulin product, even if you get Extra Help to lower your prescription drug costs.
If you get a 3-month supply of insulin, your costs cant be more than $105 ($35 for each months supply).
Part B insulin costs
Part B's durable medical equipment benefit covers insulin pumps, so the cost for a month's supply of covered insulin from a Medicare Advantage Plan can't exceed $35. The Part B deductible wont apply. If you have Part B and Medicare Supplement Insurance (Medigap) that pays your Part B coinsurance, then your plan should cover the $35 (or less) cost for insulin.
If you usually go for a 3-month supply of insulin, then that 3-month cost won't usually exceed $105, since you can't spend more than $35 a month on each covered insulin.
For more information about Medicares insulin plan, just click here.
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-08-16 14:39:01
