Tiffany Haney
The PAN Foundation provides patient assistance grants to cover medication costs, copays, health insurance premiums, and transportation expenses. In response to the new Medicare Part D reform, which will cap prescription out-of-pocket costs at $2,000 for Medicare Part D drugs from 2025 onwards, the PAN Foundation is adjusting its grant amounts. These changes will ensure that patients continue to receive support for their out-of-pocket costs, even with the implementation of the Medicare Part D reform.
| Characteristics | Values |
|---|---|
| Medicare Part D reform | A cap of $2,000 on prescription out-of-pocket costs for all Medicare Part D drugs starting in 2025 |
| PAN grant adjustment | Grant amounts will be adjusted beginning on January 1, 2025 |
| Grant coverage | Designed to cover 100% of out-of-pocket costs for most patients |
| Additional funding | Patients or healthcare professionals can apply for additional funding within the initial 12-month grant eligibility period if they run out of funds and their grant balance is $0 |
| FundFinder | Patients can sign up for email or text notifications to learn when financial assistance becomes available |
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What You'll Learn
Grant amount adjustments
The PAN Foundation is adjusting its grant amounts in response to the new Medicare Part D reform, which will cap prescription out-of-pocket costs at $2,000 for all Medicare Part D drugs starting in 2025. From January 1, 2025, the PAN Foundation will adjust its grant amounts to ensure that they continue to cover 100% of out-of-pocket costs for most patients. This adjustment will apply to new grants, additional funding, and grant renewals.
The PAN Foundation offers patient assistance grants to cover medication costs, copays, health insurance premiums, and transportation expenses. The amount of assistance and eligibility requirements vary by disease fund. Patients can apply for additional funding within their initial 12-month grant eligibility period if they have a $0 balance and the disease fund is open. To apply for additional funding, patients can log in to their PAN portal account or call the PAN Foundation.
If a patient's 12-month grant eligibility period has ended or is about to end within 30 days, they may apply to renew their grant if the fund is open. Renewal grants are applicable to all types of PAN grants: copay, health insurance premium, and transportation. Patients can apply for renewal grants through their PAN portal account or by calling the PAN Foundation.
It is important to note that grant amount adjustments will not affect patients with existing grants issued in 2024. These patients will have access to their full, original grant amount until their grant period ends.
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Medicare Part D reform
The Inflation Reduction Act of 2022 includes provisions to lower prescription drug costs for people with Medicare and reduce federal government drug spending. This includes a cap on out-of-pocket drug spending for enrollees in Medicare Part D plans, requiring Part D plans and drug manufacturers to contribute more towards high-cost enrollee prescriptions. The act also eliminates the coverage gap phase, where enrollees faced 100% of their total drug costs, and reduces Medicare's share of total costs in the catastrophic phase. These changes will take effect in 2025.
The PAN Foundation provides grants to cover out-of-pocket medication costs, health insurance premiums, and transportation expenses. In response to the Medicare Part D reform, the PAN Foundation is adjusting its grant amounts to maintain coverage of 100% of out-of-pocket costs for most patients. These adjustments will take effect on January 1, 2025, and patients with grants issued in 2024 will have access to their original grant amounts until their grant period ends. Patients can apply for additional funding within their initial 12-month grant eligibility period if they require further assistance.
The PAN Foundation's grants are available for a range of expenses, including medication copay costs, health insurance premiums, and transportation for health-benefiting activities. The application process can be completed online or by phone, and patients can use their grants at their preferred pharmacies and with their chosen providers. The PAN Foundation emphasises that the Medicare reforms do not impact an individual's current Medicare enrollment and should not influence decisions during open enrollment.
The Medicare Part D reform aims to improve affordability and access to prescription medications for enrollees, and the PAN Foundation's grant adjustments aim to ensure continued support for patients with out-of-pocket medication expenses. These changes reflect a broader effort to enhance the financial assistance available to individuals with healthcare needs.
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Additional funding
PAN grants are provided to help pay for medication copay costs, health insurance premiums, and transportation for a 12-month period. The amount of assistance and eligibility requirements vary by disease fund. Patients or their caregivers can apply for additional funding if they have a $0 balance and need more money to pay for medication before their eligibility period ends. The disease fund must be open for applications.
To apply for additional funding, patients or their caregivers can log in to their PAN portal account or call 1-866-316-7263, Monday through Friday, 9:00 a.m. to 5:30 p.m. ET. It is important to note that additional funding only applies to copay and health insurance premium grants. Patients or caregivers must apply for additional funding within the same initial 12-month grant eligibility period. If the 12-month grant eligibility period has ended or is about to end within 30 days, they can apply to renew their grant.
In response to the new Medicare Part D reform, which will place a $2,000 cap on prescription out-of-pocket costs for Medicare Part D drugs starting in 2025, PAN Foundation has announced adjustments to their grant amounts. These adjustments will ensure that their grants continue to cover 100% of out-of-pocket costs for most patients. The grant amount changes will take effect when applying for a new grant, additional funding, or grant renewal in 2025.
To prepare for the application process, patients or their caregivers should gather their personal and contact information, including date of birth, mailing address, email address, and social security number. They should also be prepared to provide documentation of their health insurance premium and verify their income.
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Renewal grants
The PAN Foundation offers grants to help with out-of-pocket medication costs, health insurance premiums, and transportation for activities that benefit the overall health of the patient. These grants are designed to cover 100% of out-of-pocket costs for most patients.
In response to the Medicare Part D reform, which will place a $2,000 cap on prescription out-of-pocket costs for all Medicare Part D drugs starting in 2025, the PAN Foundation has announced adjustments to their grant amounts from January 1, 2025. Despite the changes, the foundation assures that it will continue to offer grants that provide sufficient assistance to cover 100% of out-of-pocket expenses for most patients in each disease fund.
Regarding renewal grants, the PAN Foundation mentions that if an individual's initial 12-month grant eligibility period has ended or is about to end within 30 days, and they require funding for another 12 months, they may apply to renew their grant if the fund is open. Renewal applications for additional funding can be submitted online through the PAN portal account or by calling the PAN Foundation during business hours.
When considering a renewal grant, it is important to assess your long-term research goals and short-term objectives. Experienced investigators often find it beneficial to apply for a renewal if they have made progress and wish to continue the same long-term project. It is advisable to start planning early and lay out a strategy for securing continued funding. Applicants should be prepared to showcase accomplishments and progress in their renewal applications. Additionally, it is worth noting that renewal applications may undergo multiple review cycles, and applicants should be ready to revise and resubmit their applications if necessary.
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Changes to eligibility
The PAN Foundation provides patient assistance grants to help with medication costs, copays, health insurance premiums, and transportation expenses. Eligibility for a PAN grant is determined by the following criteria:
- The applicant must be receiving treatment for a disease named in the disease fund or program.
- The applicant must have health insurance that covers their qualifying medication or product. (Please note that health insurance requirements vary by disease fund.)
- The prescribed medication must be listed as a covered medication within the disease fund the applicant applies for.
- The applicant's income must fall at or below the federal poverty level specified by the disease fund.
- The applicant must reside and receive treatment in the United States or U.S. territories. (U.S. citizenship is not required.)
PAN grants are typically provided for a 12-month period, and eligibility requirements vary by disease fund. As a patient, you can apply for a PAN grant and start using it right away upon approval. You can choose when and where to use the grant for eligible covered expenses.
In response to the new Medicare Part D reform, which will place a $2,000 cap on prescription out-of-pocket costs for all Medicare Part D drugs starting in 2025, the PAN Foundation has announced adjustments to their grant amounts, effective from January 1, 2025. These changes will not affect their commitment to covering 100% of out-of-pocket costs for most patients. The grant amount changes will be applicable when applying for a new grant, additional funding, or grant renewal in 2025.
Patients or their caregivers can apply for additional funding within the same initial 12-month grant eligibility period if they run out of funds and their grant balance is $0. To qualify, the disease fund must be open. If the fund is closed, applicants can join a waitlist to be notified when funding becomes available.
Additionally, patients or their caregivers can apply to renew a grant if the 12-month grant eligibility period has ended or is about to end within 30 days. Renewal grants are applicable to all types of PAN grants: copay, health insurance premium, and transportation.
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Frequently asked questions
The Medicare Part D reform will place a cap of $2,000 on prescription out-of-pocket costs for all Medicare Part D drugs starting in 2025.
PAN grants will be adjusted to continue covering 100% of out-of-pocket costs for most patients. The grant amount changes will take effect when applying for a new grant, additional funding, or to renew a grant in 2025.
Patients or their caregivers can apply for additional funding within the same initial 12-month grant eligibility period if the patient runs out of funds and their balance is $0.
You can apply to renew your grant within 30 days of the end of your initial 12-month eligibility period to start a new 12-month eligibility period if the fund is open. Renewal grants apply to all types of PAN grants.
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