Washington, DC - September 11th, 2018
Washington, DC (September 11, 2018) – RetireSafe, a leading advocate on behalf of mature Americans, issued the following statement on impending threats to the Medicare Part D program.
“Changes included in the recent Bipartisan Budget Act of 2018 (BBA), altered Part D incentives that could affect the underlying competitive structure of the program. We remain concerned that if Congress does not take steps to correct those BBA changes, they may destabilize the vital Part D program that millions of seniors rely on for prescription medications. In addition to the BBA changes, the looming Medicare Part D cliff will increase the amount of out-of-pocket spending needed to enter catastrophic coverage by $1,250 in 2020. This spike in out-of-pocket spending will significantly impact patients, especially those that live on fixed incomes."
“It’s time for Congress to take action. We strongly encourage members to pass legislation that addresses the issues caused by the BBA and fixes the out-of-pocket cliff before it harms beneficiaries’ access to care.”