Changes Coming in 2025
Some of the most substantial changes in Medicare in nearly two decades will occur in 2025. If you are already on a Medicare Advantage or Medicare Drug Plan, you should have received an Annual Notice of Change letter from your Plan. This letter outlines this year’s benefits and compares them to next year’s benefits. If you’ve never looked at this document, of all years, this is the year to read it!
The most significant change in 2025 is the Part D drug coverage, primarily capping the annual out-of-pocket cost of prescriptions to $2,000 for the member for drugs covered by the Plan. On many Plans, this might affect monthly premiums, annual deductibles for brand name drugs, copays and the covered drugs for 2025.
Besides Plan benefits changing, some Plans are also being terminated at the end of the year. Watch carefully for notices from your Plan that indicate whether your Plan will be renewed for 2025. If your Plan ends this year, you will have the opportunity to enroll in a new plan during the Annual Enrollment Period, October 15 to December 7, for 2025
So that there are no surprises in 2025, plan an annual review to determine how the changes will impact you through the coming year. At no cost, members can work with an experienced local agent who can guide them through the many changes on the many plans and find the best fit.
For more information visit www.HealthBridgeInsurance.com
For expert advice, contact Marv Law at HealthBridge Insurance Solutions by phone at 760-345-4705, or email [email protected]
