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The Washington state Legislature just passed a price cap on out-of-pocket expenses for insulin at $35 for a one-month supply. This applies only to non-Medicare health plans that are regulated by the state of Washington.
Medicare drug plans are not impacted by the new Washington state law, but 2022 is the second year that some Medicare plans are offering the Senior Savings Model, which caps many insulin costs at $35. Medicare clients must check with their Part D or Medicare Advantage plan to see if they participate. If clients are currently enrolled in a Medicare Advantage plan, they have until the end of March 2022 to make a plan change during the Medicare Advantage Open Enrollment period. Anyone on Medicare can compare and change plans during the fall Open Enrollment Period that starts October 15, 2022. SHIBA recommends that all people on Medicare review their coverage each year during Open Enrollment. For more information, they can call us at 1-800-562-6900.
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