Description: Project LOOP is an initiative convened by the Alliance for Aging Research aimed at lowering out-of-pocket costs in Medicare Part D.
Growing out-of-pocket costs in Medicare Part D are a heavy burden for many older Americans. Currently, there is no limit to what patients must pay in the program and some patients receive bills for a single prescription drug fill in the thousands of dollars. Too often the sickest and most vulnerable patients pay the highest amount for their medicines. Older adults should never have to choose between their health and their basic costs of living.
In 2022, Congress passed two key reforms to better enable Medicare beneficiaries to afford their medications. The provisions are:
1) A $2,000 annual limit on out-of-pocket expenses