Attention seniors! In 2020, you may be faced with a significant spike in out-of-pocket spending under the Medicare Part D prescription drug benefit.
A measure included in the Affordable Care Act that slowed the growth rate of the “catastrophic threshold” is set to expire. This will cause the catastrophic threshold, or the amount of out-of-pocket spending needed to reach catastrophic coverage, to increase by an estimated $1,250 from 2019 to 2020.
Such a drastic increase could have terrible consequences for seniors on Part D. As you may know, once beneficiaries reach the catastrophic coverage phase, we are responsible for about 5 percent of our prescription drug costs. Unfortunately, this change will force many Medicare beneficiaries to spend substantially more out-of-pocket before reaching that phase, threatening our ability to afford the medications we need. The dramatic out-of-pocket cost increase many will experience could have especially disturbing consequences for patients with chronic conditions and mental illness, who might be forced off their medication entirely.
We need to let our Members of Congress know just how important Part D is to our health and wellbeing. Join us in calling for Congress to protect our access to medication NOW!
You can tell your members to stand up for a fix to this coverage cliff by signing on to the letter here: https://www.votervoice.net/SSO/campaigns/59358/respond