Medicare Open Enrollment starts October 15.
As we wrote in this article in March 2024, new benefits are coming to Medicare drug coverage for 2025.
Starting in 2025, all Medicare plans will include a $2,000 cap for what you’ll pay out-of-pocket for prescription drugs covered by your plan.
If your out-of-pocket spending on covered drugs reaches $2,000 (including certain payments made on your behalf, like through the Extra Help program), you’ll automatically get “catastrophic coverage.” That means you won’t have to pay out-of-pocket for covered Part D drugs for the rest of the calendar year.
So, it’s essential that you make sure your drugs are covered.
If you have a Medicare plan with drug coverage, compare plans during Medicare Open Enrollment (October 15 – December 7) to make sure your plan covers the drugs you take and meets your needs.
You can check here.
Contact us today with any questions about your options for Medicare coverage.
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