Project LOOP (Lowering Out-of-Pocket) Costs
Growing out-of-pocket costs in Medicare Part D are a heavy burden for many older Americans. There is no limit to what patients must pay in the program and some patients receive bills for a single prescription drug fill in the thousands of dollars. Too often the sickest and most vulnerable patients pay the highest amount for their medicines. The current pandemic only exacerbates the problem. The Alliance for Aging Research started Project LOOP (Lowering Out-of-Pocket) costs to urge Congress to act immediately to address undue cost burden on older Americans. Project LOOP advocates for the creation of an annual cap on beneficiary expenditures and cost smoothing, which would allow patients to spread out expenses over a period of time, to lower patients’ out-of-pocket cost burden in Medicare Part D. Learn more here.