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How to take advantage of Medicare's expanded drug benefit in 2025

The article from MSN discusses the upcoming changes to Medicare's prescription drug coverage set to take effect in 2025. These changes, part of the Inflation Reduction Act, aim to reduce out-of-pocket costs for Medicare beneficiaries. Key points include the introduction of a $2,000 annual cap on out-of-pocket expenses for prescription drugs, which will help protect seniors from high drug costs. Additionally, the Act will eliminate the 5% coinsurance in the catastrophic coverage phase of Part D plans, meaning beneficiaries will no longer have to pay coinsurance once they reach this phase. The article also mentions that these changes will be implemented gradually, with some benefits like the insulin cost cap at $35 per month already in place. It provides guidance on how beneficiaries can prepare for these changes, including reviewing their current drug plans during the open enrollment period to ensure they are getting the best coverage possible.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/how-to-take-advantage-of-medicare-s-expanded-drug-benefit-in-2025/ar-AA1v4g3f ]