Written by Marv Law, Healthbridge Insurance
Perhaps the most important action Medicare recipients can take this year is to review the Annual Notice of Change letter they receive from their Drug Plan or Medicare Advantage Plan. Notices were sent to members in September and should have arrived by October, to prepare for the Annual Enrollment Period, October 15 to December 7.
Medicare options are continuing to be impacted by the Inflation Reduction Act in 2022, and are finally experiencing the full ripple effect. Though virtually everyone agrees these changes were helpful, there are some undesirable consequences. The new annual maximum out-of-pocket drug costs for covered drugs ($2,000 in 2025 and $2,100 in 2026), with most of the cost burden shifting to the plans, make some plans unsustainable. Consequently, some plans will not be offered in 2026, and others are expected to increase premiums, copays, change covered drugs and even add or increase drug plan deductibles.
Also, with the standard Medicare Part B 2026 Premium increasing from $185 to $206.50 (11%), some annual drug deductibles increasing as high as $615 from $590, and some fixed drug copays changing to coinsurance (which is a percentage of the cost of the drug) it’s important to review and possibly compare current coverage with other options available.
Check your mail for your Annual Notice of Change letter and consider a local experienced professional agent who contracts with many companies to assist you with a review at no charge and with transparency and clarity in your best interest.
Visit HealthBridgeInsurance.com for more information.
For expert advice, contact Marv Law at HealthBridge Insurance Solutions by phone at 760-345-4705, or email [email protected]
