How to Decide if Medicare Part D is Right for You
How to Decide if Medicare Part D is Right for You
Although most federal annuitants might benefit from keeping Part D, there are three instances where you could benefit from opting out.
The Inflation Reduction of Act of 2022 included improvements to Medicare Part D, and some have already been enacted—$35 insulin, no more member cost share in the catastrophic phase of coverage, and limits on premium increases. Next year, all Part D plans must include a $2,000/year maximum out-of-pocket limit per enrollee.
To help federal annuitants take advantage of these improvements, OPM allowed FEHB carriers to offer Part D plans this year if they provide prescription drug coverage that, when combined with the FEHB Program coverage, is equal to or better than what’s available through the FEHB plan coverage alone. Click on link to find out more. https://bit.ly/4dTuQ6I
