Prescription Drug Provisions in the Inflation Reduction Act of 2022

(Source: Kaiser Family Foundation KFF)

Effective 2023 All Medicare covered insulins will be capped at $35.00 for a one-month supply (for both Part B and Part D)

Effective 2023 $0 copay (no out-of-pocket expense) for vaccines that are recommended by the CDC Advisory Committee on Immunization Practices (ACIP)

Effective 2024 Final stage of Part D prescription drug plan “Catastrophic stage” will change from 5% down to $0 for the remaining calendar year.

Effective 2025 Max-out-of-pocket for prescription drug costs (deductibles, copays, coinsurance) will be limited to $2,000 per year.

For more information on how the Inflation Reduction Act of 2022 affects Medicare Beneficiaries, please see article from the Kaiser Family Foundation.