Medicare Information And New Improvements
Prescription drug pricing is a critical concern that affects everyone, and no one should have to choose between their health and their ability to make ends meet. During the 117th Congress, Congresswoman Sylvia Garcia helped cap insulin at $35 and no-cost adult vaccines for Medicare patients. She also helped make vaccines for Shingles, Pneumonia, and Hepatitis free for Medicare patients. Her biggest priority is bringing high-quality healthcare to all constituents. Check below to learn more about the new Medicare improvements!
Reducing Out-Of-Pocket Spending For Insulin
As of January 1, 2023, insulin costs were capped at $35 per month for Medicare patients enrolled in Medicare Part D, saving seniors money on this lifesaving medication.
- Medicare beneficiaries with Part D prescription drug coverage will not pay more than $35 for a month’s supply of insulin that is covered by their Medicare prescription drug plan and is dispensed at a pharmacy or through a mail-order pharmacy.
- Medicare beneficiaries will get $35 insulin copays even before hitting their deductible.
- Starting July 1, 2023, when Medicare Part B pays for insulin through a traditional durable medical equipment pump, beneficiaries will not pay more than $35 for a month’s supply.
Many Adults Vaccines Are Available At No Cost For Medicare Part D Patients.
As of January 1, 2023, vaccines are now available to Medicare beneficiaries enrolled in Medicare Part D.
- This change eliminates patient costs for important Medicare Part D-covered vaccines such as the shingles and tetanus-diphtheria-whooping cough vaccines. The shingles vaccine had an average out-of-pocket cost of $85 in 2016.
- This provision makes cost-sharing for Medicare Part D-covered vaccines consistent with how vaccines under Medicare Part B and the private health insurance market are covered.
- In 2020, 4.1 million Medicare beneficiaries received a Medicare Part D-covered vaccine, including 3.6 million who received the vaccine to prevent shingles. Aggregate out-of-pocket spending for Medicare Part D-covered vaccines was $300 million in 2020.
- Vaccines covered by Medicare include Shingles, Pneumonia, Influenza, COVID-19, HVP, Cholera, Dengue, Polio, Hepatitis A and B, Rabies, Smallpox, Chickenpox, Meningitis, Ebola, Anthrax, Measles, Mumps, Rubella, Rotavirus, Typhoid, Yellow Fever, Japanese Encephalitis, and Hib.