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What Other Changes Are Being Made to Part D? As of 2023, the out-of-pocket cost of insulin products is limited to no more than $35 per month in all Part D plans. In addition, adult vaccines covered under Part D, such as the shingles vaccine, are covered with no cost sharing.
CMS has released the following 2023 parameters for the defined standard Medicare Part D prescription drug benefit: Deductible: $505 (up from $480 in 2022); Initial coverage limit: $4,660 (up from $4,430 in 2022); Out-of-pocket threshold: $7,400 (up from $7,050 in 2022);
In 2023, the out-of-pocket limit for Medicare Advantage plans may not exceed $8,300 for in-network services and $12,450 for in-network and out-of-network services combined.
You should receive a notice from your employer or plan around September of each year, informing you if your drug coverage is creditable.
This notice has information about your current prescription drug coverage with your employer and about your options under Medicares prescription drug coverage. This information can help you decide whether or not you want to join a Medicare drug plan.
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Certificate of Creditable Coverage A written certificate issued by a group health plan or health insurance issuer (including an HMO) that shows your prior health coverage (creditable coverage).
What is it? Youll get this notice each year if you have drug coverage from an employer/union or other group health plan. This notice will let you know whether or not your drug coverage is creditable.
This form is used for proof of group health care coverage based on current employment. This information is needed to process your Medicare enrollment application. The employer that provides the group health plan coverage completes the information about your health care coverage and dates of employment.

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