It was announced that a Medicare Part D subsidy will not be renewed for 2027. The subsidy was put in place for insurance companies in order to keep prescription drug insurance costs low. The subsidy is now not being renewed as the market stabilizes.
WHAT THIS MEANS FOR YOU
It is said that with the subsidy not being renewed, beneficiaries will see a small premium increase of less than $10. Beginning in September, you will receive your Annual Notice of Change (ANOC). This will share how your current Medicare and Prescription Drug Plans are changing. We will know confirmed changes and premium increases as ANOC’s are released in September.
The ABS Team is here to provide clarity as more information rolls out about this change. To ensure your prescriptions are at the lowest cost available to you, we will want to conduct a benefit review in October. Please reach out to the ABS Team today to get on the calendar!