Problems With The Medicare Prescription Payment Plan On Medicare.gov?

The Medicare Prescription Payment Plan, also known as MPPP, MP3 or M3P, is a brand-new program that will take effect on January 1, 2025, the same day as the $2,000 cap on Part D out-of-pocket drug costs. The MPPP is like an installment payment plan for those who have Part D prescription drug coverage. They’ll be able to spread the costs out over the year, instead of paying all at once.

Here are a few quick facts about the MPPP.

• Anyone who has Part D drug coverage, in a stand-alone plan or a Medicare Advantage plan, is eligible for this program.
• The MPPP applies only to Part D drugs that are listed in a plan’s formulary.
• Once enrolled in the program, there will be monthly bills.
• The amount can vary depending on many factors, such as whether the plan has a deductible or changes in the medications an enrollee takes.
• This program will not save anyone any money. $2,000 is the most an enrollee will spend on covered medications and the MPPP simply spreads out the costs.
• Participation in the program is optional; enrollees must choose to enroll. And that is leading many to wonder, “Should I sign up or not?”

The 2025 drug plan details are now available in the Medicare Plan Finder, along with information about how the MPPP works and charts that show what your drug costs might look like with or without this payment option.