By Sandra Block
From Kiplinger’s Personal Finance
If you’re enrolled in Medicare and spend a lot of money on prescription drugs, legislation enacted last summer could lower some of your expenses.
The prescription-drug provisions in the 2022 Inflation Reduction Act will be phased in over seven years, but some take effect as early as this year. To get the most out of these cost-saving provisions, you need to be vigilant, and you may need to make some changes to your existing prescription-drug regimen.
Caps on insulin payments. If your insulin is covered by your Part D prescription-drug plan, your co-payments are capped at $35 a month, as of Jan. 1. For beneficiaries who use an insulin pump, which is covered by Part B, the $35 co-payment cap kicks in July 1….