The Medicare Open Enrollment starts from 15 October – 7 December 2024. This time frame gives you an opportunity to review your plan choice and make changes, if necessary. Review your current plan. Medicare has added more accepted care. Now, if your Veteran spouse served 20 years or more – after age of 65 you are covered with Tricare For Life…. Best coverage – Medicare (Primary) Tricare For Life (Secondary) – you do NOT need an additional medical insurance policy.
Major Medicare Changes For 2025 And How They Will Impact Your Coverage:
In 2025, Medicare will undergo some of the most significant changes in a generation. Changes to Medicare will include a $2,000 limit on out-of-pocket Part D drug costs, an opt-in payment plan, and some potential broad changes in Medicare Advantage plans.
Key Takeaways: Medicare changes include the elimination of the “donut hole” and a limit on how much you’ll pay out of pocket for covered prescription drugs.
There will be a new payment plan you can opt into to spread out your medication costs. A new optional payment plan can ease budgeting, particularly for expensive drugs. Depending upon the cost of your drug, remember out-of-pocket expenses are capped at $2,000 annually, you won’t pay more than $166.67 per month ($2,000 divided by 12).
In response to these changes, insurers will likely change pricing and coverage for Medicare Advantage and Part D plans.
Medicare Advantage beneficiaries should receive a letter in the middle of 2025 about unused benefits.
Other changes impact the availability of mental health care, prior authorization use, and unpaid caregiver support for Medicare recipients with dementia. Medicare aims to enhance access to these critical services.
*Check with your current medical plan and contact them with questions you may have or go onto the website: www.medicare.gov
Brenda Dever-Armstrong, CEO/Owner/CSA/Geriatric Advisor/Lifetime Advocate
The Next Horizon Senior & Military (Veterans/Spouses) Services/Resources/Locator