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As part of the Inflation Reduction Act—a law aimed at providing financial relief for people with Medicare—some changes are rolling out on January 1, 2025. These changes apply to anyone with a Regence Medicare Advantage plan with prescription drug coverage. Both changes also apply only to Medicare Part D medications and not to any medications or supplies under Medicare Part B.
$2,000 yearly cap for prescription costs
You’ll have an out-of-pocket maximum of $2,000 for prescription drug costs for the plan year. This is a big reduction from the previous $8,000 out-of-pocket maximum in 2024. Learn more about coverage phases
Medicare Prescription Payment Plan
With this new payment option, you can spread your out-of-pocket costs for prescription drugs over the course of the calendar year (January-December). So rather than paying a large amount all at once, you’ll make smaller monthly payments throughout the year. While it won’t reduce your total drug costs, it can help you manage your monthly expenses.
A drug formulary—also called a covered-drug list—is a list of drugs that your Regence health plan helps cover. So when you fill your prescription, you don’t have to pay full price.
To see which prescription drugs are covered or search for a pharmacy near you, sign in to your personalized Regence account. Or check your member ID card for your health plan information and select the link for your plan below.
You’ll find other useful information about our formularies in our FAQs.
Need help finding a preferred pharmacy or have questions about your prescription drug plan? Sign in and chat online, or call us at the number on the back of your member ID card.
If your plan is through an employer group, benefits
and features may be different than described.
AllianceRx, Express Scripts and Postal Prescription Services are
separate companies that provide pharmacy services.
Last updated 10/26/2024
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