Goes like this....
"Thanks to the Inflation Reduction Act, President Biden's lower-cost prescription drug law, annual out-of-pocket costs will be capped at $2,000 for people with Medicare Part D in 2025."
What this means is, if your employer prescription coverage is not capped at $2000 (which it probably won't), now your prescription coverage is not as good as Medicare Part D, meaning you will no longer have credible coverage. Result: You'll pay a penalty in the form of a higher premium for Part D when you file, a penalty that will last as long as you're alive. Check with your employer to see if you will have a $2000 cap in 2025.
Thanks Democrats.
https://www.keenan.com/knowledge-ce...y-affect-creditable-status-of-employer-plans/
"Thanks to the Inflation Reduction Act, President Biden's lower-cost prescription drug law, annual out-of-pocket costs will be capped at $2,000 for people with Medicare Part D in 2025."
What this means is, if your employer prescription coverage is not capped at $2000 (which it probably won't), now your prescription coverage is not as good as Medicare Part D, meaning you will no longer have credible coverage. Result: You'll pay a penalty in the form of a higher premium for Part D when you file, a penalty that will last as long as you're alive. Check with your employer to see if you will have a $2000 cap in 2025.
Thanks Democrats.
https://www.keenan.com/knowledge-ce...y-affect-creditable-status-of-employer-plans/