Back from Atlanta, where it was just 14 on Wednesday!

While there, we set a path forward for the Advocacy Service I’ve been teasing.  (Tip # 623 Et al.) 

We’ll announce our launch in days, not weeks. 

Until then, here’s some breaking news.

During the recently ended Medicare Open Enrollment (10/15-12/7), many of you noticed significant increases for Part D (Rx) premiums.

As featured in Tuesday’s WSJ, the 2022 Inflation Reduction Act (IRA), known more for allowing Medicare to negotiate the cost of drugs, also set annual Out Of Pocket drug caps of $3,300 for seniors, effective this year. For 2025, that cap drops to $2,000!

Cited in the article was a person taking a blood-cancer drug costing $16,600/month. Previously, he’d pay his deductible plus 25% of the cost until he hit the $3,100 ‘catastrophic threshold’ and then 5% after that; total OOP > $12,000. (Source KFF; more detail HERE.)

The new cap applies even when taking multiple expensive drugs.

Now I understand the reason for the premium increases.

But, did the IRA provide for an electronic means of identifying people who reach their cap? Or, will there be “thornier paperwork” involved? 

The flurry of service calls provides that answer.