CHICAGO | October 15, 2024
The American Lung Association is committed to ensuring quality and affordable healthcare for everyone, especially the 35 million people in the U.S. living with lung disease. With the implementation of a new law set to go into effect on January 1, the Lung Association is working to educate Medicare beneficiaries and healthcare providers on significant changes that will benefit millions of seniors.
Starting January 1, 2025, seniors enrolled in Medicare Part D will see a cap on their out-of-pocket prescription drug costs, paying no more than $2,000 per year. This new measure, supported by the Lung Association as part of the Inflation Reduction Act, aims to alleviate the financial burden on seniors who are currently paying more than $2,000 annually for their medications.
“The Lung Association is actively working to educate healthcare providers about the new out-of-pocket cap and payment plan options. Providers play a crucial role in informing patients about these new benefits, especially those who have high prescription drug costs,” said Harold Wimmer, President and CEO of the American Lung Association. “Understanding the details of the payment plan and how it can be tailored to individual needs is essential. This new cap will provide significant financial relief for millions of seniors, ensuring they can afford the medications they need.”
To further ease the financial impact, seniors will have the option to enroll in a Medicare Prescription Payment Plan that allows them to spread the $2,000 cap into manageable monthly payments over the course of the year. Enrollment for the payment plan is available during Medicare Open Enrollment from October 15 through December 7 or at any time during the 2025 plan year.
The American Lung Association has developed resources to assist seniors in making informed decisions about enrolling in the Medicare Prescription Payment Plan. For more information and guidance on whether this option is right for you, please visit Lung.org/medicare.
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The American Lung Association is the leading organization working to save lives by improving lung health and preventing lung disease through education, advocacy and research. The work of the American Lung Association is focused on four strategic imperatives: to defeat lung cancer; to champion clean air for all; to improve the quality of life for those with lung disease and their families; and to create a tobacco-free future. For more information about the American Lung Association, which has a 4-star rating from Charity Navigator and is a Platinum-Level GuideStar Member, call 1-800-LUNGUSA (1-800-586-4872) or visit: Lung.org. To support the work of the American Lung Association, find a local event at Lung.org/events.
For more information, contact:
Jill Dale
312-940-7001
[email protected]
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