Medicare Open Enrollment for 2025 is just around the corner, running from October 15 to December 7, 2024. During this time, Medicare participants can review and make changes to their Medicare plans, ensuring they have the right coverage for the year ahead. To prepare for the upcoming enrollment period, below are a few notable changes in Medicare for 2025. For additional information on the below, visit Medicare.gov.
Notable Changes in Medicare for 2025
- Increased Premiums and Deductibles: As is often the case, Medicare Part B premiums and deductibles are expected to see modest increases. While exact figures are pending final confirmation, it’s essential to check the updated costs as you plan your coverage.
- Expanded Coverage for Telehealth Services: In response to the growing demand for virtual care, Medicare is expanding its telehealth coverage, including mental health services and follow-up visits. This will continue to provide more convenient access to healthcare, especially for those in rural areas or with mobility challenges.
- Improvements in Drug Price Negotiation: One of the most impactful changes for 2025 is the further implementation of drug price negotiations under the Inflation Reduction Act. This will help reduce out-of-pocket costs for certain high-cost medications, particularly those used to manage chronic conditions like diabetes and heart disease.
- More Accessible Mental Health Coverage: Medicare is expanding its mental health services, including broader access to counseling, therapy, and substance use disorder treatments. This change reflects an ongoing effort to address the growing mental health needs of plan enrollees.
- Enhanced Benefits for Preventive Services: Medicare is enhancing its coverage of preventive services, including screenings for cancer, heart disease, and diabetes. These expanded benefits aim to catch potential health issues earlier, allowing for more effective treatment.
- More Resources for Caregivers: Medicare will cover additional caregiver support, like training that helps your caregiver better care for you, and relief when they’re caring for family members in hospice care. Also, some people living with dementia and their caregivers may be able to get more support through a new pilot program.
- Changes to Medicare Advantage Plans: Medicare Advantage plans are seeing several updates, including new supplemental benefits like expanded in-home care options, meal delivery services, and fitness memberships. As plan offerings can vary significantly, it’s crucial to review the changes specific to your plan.
Key Dates and Actions for Open Enrollment
Early October
- Review Your Current Coverage: Take the time to assess your current plan’s benefits, costs, and provider networks. Compare it with the new options available for 2025 to ensure you are getting the best coverage for your needs, including:
- Evaluate Your Current Prescription Drug Plan: Review your plan to make sure it covers your medications at a cost you can manage.
- Check Your Provider Networks: Verify that your preferred doctors, specialists, and hospitals are still in-network for 2025.
- Consider New Plan Offerings: If you’re in a Medicare Advantage Plan, be sure to look at any new supplemental benefits available, especially if they align with your health needs and lifestyle.
October 15 to December 7, 2024
- Change or confirm your current Medicare health or drug coverage for 2025: You can join, switch, or drop a Medicare Advantage Plan or Medicare Drug Plan or switch to original Medicare during this open enrollment period each year.
January 1, 2025
- New coverage begins: Whether you made a change or kept your existing coverage, your new plan’s costs or benefits start on this date.
January 1 to March 31, 2025
- Opportunity to make changes to a Medicare Advantage Plan: If you’re in a Medicare Advantage Plan, you can change to a different Medicare Advantage Plan or switch to Original Medicare (and join a separate Medicare Drug Plan) once during this time. Any changes you make will be effective the first day of the month after the plan confirms your request.
Medicare open enrollment is your chance to make sure your healthcare coverage aligns with your needs and budget. We recommend working to make any changes to your Medicare coverage well in advance of the December deadline. The earlier you call, the less time you could spend on hold. To make changes, you can either log in to your account through Medicare.gov or call 1-800-MEDICARE.
We partner with several professionals who specialize in navigating Medicare options. To learn more, please contact your JNBA Advisory Team or visit Medicare.gov for additional information.
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