Changes to Medicare Part D Coverage in 2024 & 2025

The Inflation Reduction Act of 2022 includes changes to the Part D prescription drug costs for people with Medicare. The Act will include a number of changes to the Medicare Part D drug benefit. These changes include a cap on out-of-pocket drug spending for enrollees in Medicare Part D plans and requiring Part D plans and drug manufacturers to pay a greater share of costs for Part D enrollees with high drug costs. This explanation below provides an overview of the Part D benefit design as it is now in 2023 and changes coming in 2024 and 2025.