Medicare Prescription Payment Plan (M3P)
If you have a single prescription costing more than $600 per month or your drug costs exceeded $2000 in the last year you might benefit from this payment plan.
This payment option might help you manage your monthly expenses, but it does not save you money or lower your drug costs. It can make monthly budgeting easier, especially if you have high drug costs early in the year.
What is the Medicare Prescription Payment Plan?
The Medicare Prescription Payment Plan is a new payment plan that works with your current drug coverage to help you manage your out of-pocket Medicare Part D drug costs by spreading them across the calendar year (January-December). Starting in 2025, anyone with a Medicare health plan with drug coverage can use this payment option.
Who is eligible?
This payment option and participation is voluntary. As part of the Inflation Reduction Act, this program will be available in 2025 for Medicare Advantage members with prescription drug coverage.
How does it work?
When you fill a prescription for a drug covered by Part D, you will not pay your pharmacy (including mail order and specialty pharmacies). Instead, you will get a bill each month from Express Scripts.
Who would not likely benefit from the program?
- If you have low yearly drug costs.
- Your drug costs are the same each month.
- If you sign up for the payment option late in the calendar year (after September).
- You are eligible for Extra Help from Medicare (LIC subsidy).
- You are eligible for a Medicare Savings Program.
- You have extra help paying for your drugs from other organizations, like the State
Pharmaceutical Assistance Program (SPAP), a coupon program, or other health coverage.
To receive more information about this new payment plan visit: https://express-scripts.calculator.m3p.health/.
Enroll in M3P here www.Expressscripts.com/mppp or call: 866-845-1803 24 hours a day 7 days a week.
Click here for an FAQ document regarding the Medicare Prescription Payment Plan.