Medicare Prescription Payment Plan (M3P) Plan
Created under the Inflation Reduction Act, the Medicare Prescription Payment Plan (M3P) is a new program starting on January 1, 2025, to help you pay for your prescriptions in a simpler way. Instead of paying all at once at the pharmacy, this program lets you spread out your payments over the year. You won’t need to pay anything when you pick up your covered Part D drugs at the pharmacy. Instead, your plan will send you a bill each month for what you owe. The pharmacy will get paid right away by your plan, so you can focus on your health.
Who is likely to benefit from the Medicare Prescription Payment Plan?
Being able to pay high cost sharing amounts in the form of monthly payments instead of all at once to the pharmacy will improve access to, and affordability of prescription drugs for some people with Medicare Part D. This option can help members who face high cost sharing for prescription drugs manage these costs by spreading them out over the course of the plan year. While this program is available to anyone with Medicare Part D, enrollees with high cost sharing earlier in the plan year are more likely to benefit from the program.
For Medicare enrollees with Part D who are eligible for the Low-Income Subsidy (LIS) (also known as Extra Help), enrollment in Extra Help is more beneficial than the Medicare Prescription Payment Plan (M3P).
Click below to access the Retiree RxCare Medicare Prescription Payment Plan (M3P) Portal
How do I opt into the program?
We have several convenient ways for you to opt into the program. You can use the link to the portal above to create an account to manage your M3P account, you can call our customer service team to opt you in to the program, or you can fill out and mail in this election form.
How can I figure out what my potential costs would be?
You can use the payment calculator tool found on the Retiree RxCare Medicare Prescription Payment Plan (M3P) Portal or click the link below to view the Medicare Fact Sheet for more information.
What payment methods are accepted?
You can pay online by credit card, or mail in a check. All payment information will also be provided on your monthly invoice.
Can I sign up for automatic payments?
Yes, you can sign up for automatic payments using the link to the portal above.
Can I choose paperless billing for the M3P program?
Yes, you can sign up for paperless billing using the link to the portal above.
Where can I get more information?
Click below to view the Medicare Fact Sheet on the program. Our customer service team will be happy to answer any questions you may have about the Medicare Prescription Payment Plan, 24 hours a day 7 days a week.
