Easier Prescription Drug Access for Seniors: Medicare Changes
This act aims to make it easier for seniors to access prescription drugs under the Medicare program. The changes involve how income and resources are calculated, potentially helping more people qualify for lower drug costs. In practice, this means retirement savings will no longer count as income when determining drug subsidies.
Key points
Retirement plan funds will not be counted as income when determining eligibility for Medicare Part D drug subsidies.
The changes aim to increase the number of seniors who qualify for assistance with prescription drug costs.
The new rules will take effect starting January 1, 2024.
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