Now that the open enrollment for 2025 is over, what should you know about changes to Medicare for this year? What is important for you to know? Starting January 1, 2025, Medicare enhanced the prescription drug coverage called Medicare Part D. They made a couple of changes to it. The primary thing they did was improve or increase the coverage of your prescription drug costs.
All Part D Medicare Plans no longer include language about the “donut hole.” This means that the government imposed a maximum of out-of-pocket costs on prescription drugs of $2,000 per year. Now, the vast majority of us will never reach that limit, but for a person with chronic issues and a constant need for prescriptions, that’s going to be a major benefit.
Making the Right Decision about Medicare or Medicare Advantage
With that change, you might need to make a decision about staying in a regular Medicare plan or changing to a Medicare Advantage plan. That decision is dependent upon various factors such as:
- Where you live
- Your economic situation
- Your healthcare and insurance needs
- Other circumstances of your life that may relate to health insurance
All these factors need to be reviewed and discussed on a person-by-person basis. We’re located in Afton, Missouri, but we help people across the nation review their health insurance choices.
Any time you’ve got a question about Medicare or your health insurance, we’d be happy to walk you through that conversation. All you need to do is call us at (314) 544-5400 and we can give you a hand with your decisions.
