Key Improvements to Medicare Part D Coverage and Programs for 2024
Since January 1, 2024, Medicare drug coverage (Part D) has significantly improved, substantially benefiting many enrollees. One of the key changes is the introduction of the catastrophic coverage phase. Once your out-of-pocket drug costs reach $8,000, this phase kicks in, relieving you from co-payments and coinsurance for the rest of the calendar year. This provision effectively caps out-of-pocket costs at approximately $3,250 in 2024, according to KFF, providing a significant safety net for your healthcare budget.