Recently, CMS released the Medicare Prescription Payment Plan (M3P) Part Two Draft Guidance. The Medicare Prescription Payment Plan is a new program required under the Inflation Reduction Act under which Part D sponsors must provide enrollees the option to pay out-of-pocket prescription drug costs in the form of monthly payments over the course of the plan year, instead of all at once at the pharmacy, beginning in 2025.  A 30-day comment period for the draft part two guidance opened today and concludes on March 16, 2024.

Press Release: https://www.cms.gov/newsroom/press-releases/cms-issues-additional-guidance-program-allow-people-medicare-pay-out-pocket-prescription-drug-costs

Fact Sheet: https://www.cms.gov/files/document/fact-sheet-medicare-prescription-payment-plan-draft-two-guidance.pdf

M3P Draft Part 2 Guidance: https://www.cms.gov/files/document/medicare-prescription-payment-plan-draft-part-two-guidance.pdf