09/21/2024
MEDICARE BENEFICIARIES...
You've likely already heard plenty of clamor regarding changes happening to Medicare in 2025. I've certainly posted a fair amount of info myself on this topic.
As you also know the Annual Election Period is just around the corner starting up October 1. During this time you can review your current Prescription Drug Coverage or your Medicare Advantage Plan against new plans or benefits for 2025 to insure you're getting the healthcare you prefer, that also fits your budget.
While the plan design changes may not affect everyone adversely, and certainly some will benefit greatly, every Medicare beneficiary who is enrolled in Medicare Part D coverage for prescription drugs, whether that be a stand-alone prescription drug plan or included in their Medicare Advantage plan, will be affected in some way.
Below are some of the changes you may experience or be able to take advantage of in 2025:
🔹Reduced costs at pharmacy
🔹Increased premiums for Part D Plan
🔹Reduced or more restrictive drug formulary
🔹Loss of coverage - some plans are exiting the market altogether
🔹New plan availability - some plans are opening in new markets
🔹Increased cost sharing
🔹Increased premiums for your Medicare supplement plan
As an agent serving Medicare beneficiaries for 8 years I can tell you many of us in the industry are expecting this to be one of the most active, if not the most active, enrollment periods we've seen.
It's been said that every year roughly 11% of Medicare beneficiaries make plan changes during this period, but this year an estimated 48% of beneficiaries will 𝗡𝗘𝗘𝗗 to change their plan.
If you have a dedicated agent to work with, I'd urge you to get with them starting October 1 and review your plan and benefits for the following year.
If we can help, please feel free to contact us by phone or online.
814-566-3191
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