With Medicare prescription-drug benefits on the brink of major changes in 2025, beneficiaries who hope to minimize their costs at the pharmacy counter need to stay vigilant in the coming months. What do you need to know for this fall’s Medicare open-enrollment period, which runs from Oct. 15 through Dec. 7?

The changes coming with the new year — including a $2,000 cap on out-of-pocket prescription-drug costs and a new program designed to help enrollees spread out their medication costs over the course of the calendar year — may look straightforward on the surface, but they come with some wrinkles.

For example, the new Medicare Prescription Payment Plan will help beneficiaries spread their out-of-pocket costs into monthly installments with no interest or fees. However, to sign up for the payment plan, enrollees must contact your Part D insurance plan at least 24 hours before you pick up your prescription at the pharmacy counter.

Second, Medicare is finished with the first round of drug price negotiation, but the method for how the program is determining the value of selected prescription drugs remains a black box. With the second round of negotiation coming up, how can beneficiaries weigh in with policymakers?

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