Medicare’s New Senior Savings Model Makes Insulin More Affordable
The White House announced a new program - “Part D Senior Savings Model.” This new program will limit the cost of insulin for participating seniors to a maximum of $35 for a 30-day supply—a major victory in our fight for affordable insulin!
The program takes effect on January 1st. If you are a senior on Medicare and want to participate, you’ll need to take these steps:
Before October 15, 2020: Check on your current Part D Prescription Plan and what type(s) of insulin you are prescribed.
Between October 15 and December 7, 2020: While your current health insurance plan may elect to participate in this program, not all do. You may need to switch plans in order to get this new benefit, and you’ll need to switch before the end of the Medicare Open Enrollment period (October 15 to December 7, 2020). You’ll be able to review all available plans using the Medicare Plan Finder, which will be updated by October 15, 2020 to show you which plans will offer the new discounts for insulin. This will allow you to compare all Medicare Advantage and Part D to can choose a plan that best suits your needs.
Call us for more information.
Resources for this information provided by American Diabetes Association