Medicare is big business. It changes a little or a lot every year, and millions have strong opinions about it.

The Inflation Reduction Act of 2022 has triggered a raft of changes to Medicare Part D plans and Medicare Advantage plans that affect prescription drug coverage in 2025. Here’s what to know.

Medicare Part D covers prescription medications. Costs vary depending on certain coverage phases, including catastrophic coverage. As of January 1, 2025, the Medicare Part D phase, known as the ...

Under the Inflation Reduction Act of 2022 (IRA), signed into law by President Joe Biden in August 2022, the federal government capped prescription drug cost inflation and is negotiating drug ...

Medicare Part D offers prescription drug coverage ... Part D plans used to have a coverage gap, which people called a “donut hole.” This was a temporary limit on how much your prescription ...

The donut hole was a gap in Medicare Part D prescription drug coverage that occurred between the initial stage and catastrophic stage of coverage. In 2025, new rules under the Inflation Reduction ...

Each year, employers that provide prescription drug coverage to Medicare-eligible individuals through a group health plan ...

The Centers for Medicare and Medicaid Services (CMS) says about 8,247,000 people with Medicare Part D coverage use the ten drugs selected for price negotiation.

The deductible is the first phase of Medicare Part D, in which enrollees must cover the full costs of their prescription drugs. After reaching the deductible, beneficiaries enter the coverage ...

Elimination of the Medicare Part D coverage gap (donut hole) In years past, Medicare beneficiaries had to navigate the so-called donut hole, which was a coverage gap in Medicare Part D because of ...