How Will Medicare Changes in 2025 Affect You?
There’s been plenty of speculation about the upcoming 2025 Medicare changes. You’ve probably heard things like, “If you don’t switch your plan, you’ll lose coverage!” or “Medicare is making you pay more for your medications!” Neither is true.
As I always say, knowledge is potential power—it only becomes powerful when we use it. Here are the facts about the 2025 Medicare changes, based on your plan type, so you can be prepared, not panicked:
Key Changes to Medicare Advantage and Standalone Part D Plans:
For the first time, Medicare will cap out-of-pocket
prescription costs—great news for those on high-cost medications. However, these changes will impact you differently based on the type of plan you have:
– Medicare Advantage: If you primarily take generic medications, the changes will have little effect.
– Standalone Part D Plans: You’ll see the benefit of out-of-pocket caps on high-cost drugs, but some plans may have increased premiums or deductibles. Be sure to review the Annual Notice of Change (sent by your carrier), which outlines changes for 2025.
If your medications are no longer covered or your premiums have jumped significantly, contact us at 949-676-7272 (or text us) so we can help you navigate your options.
If Your Plan is No Longer Available in 2025:
Some carriers are consolidating their plan portfolios, meaning some plans won’t be available next year. If your plan is being phased out, you must take action. Call or text us at 949-676-7272 so we can help you find a new plan that fits your needs.
We’re Here to Help:
At West Compass Insurance, we believe in providing you with the facts so you can make informed decisions—no scare tactics. If you’re happy with your plan and it’s available in 2025, no action is needed. However, if you have high-cost medications or if your plan is changing, it’s important to review your plan with us.
It’s crucial to know that if you make changes directly with the carrier or through another agent, we will no longer be your agent of record and won’t be able to assist you moving forward. We’re here to help you—call or text us at 949-676-7272.
Streamlining the Annual Election Period:
This year, we emailed a quick survey from RetireFlo to help streamline your enrollment process. If you didn’t receive it, check your junk mail or contact us, and we’ll resend it. Our Client Success Team is here to ensure a smooth experience and guide you through each step.
A Note of Thanks:
Thank you for trusting us over the years and for referring your friends and family. We are incredibly grateful for your support! Please add us to your inbox to avoid missing important updates. As always, feel free to reach out if we can assist in any way.
West Compass Insurance
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For more information about Medicare visit: https://westcompassinsurance.com/medicare-basics/