Inflation Reduction Act passed in August 2022

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Capping insulin prices at $35/month for Part D beneficiaries

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No deductible for insulin under the cap

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HIRE A TAX PROFESSIONAL TODAY AT VERY BEST SERVICE CHARGES!

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Out-of-pocket costs for insulin will decrease

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The act is a significant change to Medicare's approach to prescription drugs

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It will save money for those who use expensive drugs

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Cap on insulin applies to over a million insulin users with Part D through Medicare Advantage plans.

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From 2007-2020, out-of-pocket insulin costs quadrupled despite user numbers only doubling.

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Average monthly insulin costs in 2020 were $54

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Cap saves average users at least 35%

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The special enrollment period for insulin users to switch Part D plans is until the end of 2023.

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If you are having trouble paying your taxes, you may be eligible for some of the provisions of the Fresh Start program. You should contact the IRS or a tax professional for more information.

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