As we approach 2025, significant changes are coming to Medicare’s prescription drug coverage. These changes are designed to make medications more affordable for seniors, and it’s important to understand how they can impact your current coverage. Here’s what you need to know about the upcoming changes.

Annual Cap on Out-of-Pocket Costs in 2025

In 2025, an important new benefit will be introduced:

  • $2,000 Out-of-Pocket Cap: Your yearly out-of-pocket costs for Part D prescription drugs will be capped at $2,000. This change offers peace of mind by limiting how much you have to spend each year on medications.
  • Monthly Payment Option: In 2025, you’ll have the option to pay your out-of-pocket costs in monthly amounts spread over the plan year, rather than all at once when you fill a prescription. This can make it easier to manage your budget.

Review Your Coverage Before 2025

 With these changes on the horizon, the Annual Election Period (AEP) is the perfect time to review your Medicare coverage. This begins October 15th and ends December 7th.  As a trusted Insurance professional in California, I, Jennifer Carr, am here to help you understand how these updates will affect you and ensure you have the coverage you need.

Let’s work together to review your policy during the Annual Election Period and make sure you’re ready to take full advantage of these new benefits. Reach out today to schedule a review and secure your peace of mind for the future!

This summary of Medicare changes for 2025 is intended to keep you informed and prepared.

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