The Major Changes in Medicare for 2025

Every year, Medicare changes, and in 2025, there are significant modifications to be aware of entering into the Medicare Annual Enrollment Period (October 15th - December 7th). These changes are primarily due to the Inflation Reduction Act passed in 2022. The adjustments are designed to enhance affordability and healthcare access for beneficiaries, particularly regarding prescription drug coverage. Continue reading for the main updates.

1. Smoothing Out-of-Pocket Costs:

   1. The new smoothing program will allow beneficiaries to spread out their out-of-pocket costs for prescription drugs over the year rather than paying the more considerable upfront costs. Smoothing is designed to make drug costs more manageable, especially for people who require expensive medications.

      
      

2. Out-of-Pocket Cap for Part D Prescription Drugs:

   1. This change begins in 2025. Medicare Part D will introduce an annual out-of-pocket spending cap. This means that once beneficiaries spend a certain amount on prescription drugs—$2,000 in 2025—they will not have to pay any more out-of-pocket costs for the remainder of the year.

      
      

3. Expanded Access to Preventative Services:

   1. Medicare will continue to expand access to preventative services with no out-of-pocket costs, including certain cancer screenings, vaccines, and other necessary health measures. This aims to encourage those to take advantage of preventative care, which can help avoid more severe and costly health conditions down the line.

      
      

4. Negotiated Drug Prices:

   1. Beginning in 2025, Medicare will be allowed to negotiate prices for certain high-cost prescription drugs for the first time. The goal is to lower the prices of some of the most expensive drugs.

      
      

5. Insulin Price Caps:

   1. Since 2023, a $35 monthly cap on insulin has been in place, and this will continue to provide affordable access to insulin for Medicare beneficiaries beyond 2025.

      
      
      
      

Every year, Medicare changes plans, networks, doctors, and prescriptions. You might have noticed an increase in your Medicare Supplement premium. Rest assured, we are here to assist you.

To learn more about Medicare changes and plan options for 2025, you can set up an in-person or over-the-phone complimentary Medicare Benefits Review. Senior Solutions is the Medicare Division of The Bedrock Group, and we have agents in over 38 states who are here for you. Please go to https://www.bedrockfg.com/scheduleappointment

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At The Bedrock Group, we're a Veteran and First-Responder-owned full-service insurance agency. We provide complimentary consultations and no-cost Medicare reviews. Our home office is located in New Albany, IN. We have a Senior Resource Center in Stanford, KY, and a full-service agency in Asheville, NC. We also offer the following services:

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