New Film Explains Cost-Saving Options for Medicare Part D

A new film released this week from the Alliance for Aging Research details upcoming cost-saving changes to Medicare Part D plans and what beneficiaries need to do to take advantage of these options. The film, How Medicare Drug Coverage Changes Will Impact You in 2025 explains how to decrease out-of-pocket costs for prescriptions.

In 2025, Medicare Part D beneficiaries will have two options:

• An annual out-of-pocket maximum of $2,000 that makes sure no beneficiary pays more than this amount for their prescriptions each year.
• Additionally, the new Medicare Prescription Payment Plan will allow beneficiaries to spread out their costs through interest-free monthly installments, helping older adults budget and avoid the financial strain of paying for expensive medications upfront.

Beneficiaries may take advantage of one or both options, but must do so during Open Enrollment — October 15 through December 7, 2024 — to take effect in 2025. These benefits are not automatic, and beneficiaries must re-enroll each year.

Learn more about these changes, view our film collection, and help spread the word with our Social Media Toolkit at LowerOutOfPocketCosts.org.