Time-Sensitive: Review Your Medicare Coverage Before December 7
If you’re among the 67.8 million Americans relying on Medicare, now is the perfect time to assess your health plan and prescription drug coverage for 2025. The annual open enrollment period ends on December 7, and experts urge you to explore your options carefully.
Why Review Your Coverage?
Sticking with your current plan might seem convenient, but you could be missing out on better deals or more suitable coverage. According to Juliette Cubanski, deputy director of the program on Medicare policy at KFF, “It’s possible that you could save money” by switching to a plan that offers lower cost sharing for expensive medications or better coverage and extra benefits.
Start Your Search with Medicare.gov
To begin comparing plans, visit Medicare.gov, which provides an overview of available plans in your area, along with their monthly premiums and specific costs. You can also consult with trained counselors through the State Health Insurance Assistance Program (SHIP) for free Medicare advice in every state.
Key Considerations When Comparing Plans
When evaluating plans, remember that original Medicare (Parts A and B) allows you to see any doctor who accepts Medicare, whereas private Medicare Advantage plans have provider networks that limit your choices. Verify that your preferred doctors will be covered by your plan, as brochures may be outdated.
Changes to Prescription Drug Coverage in 2025
Starting next year, there’s a $2,000 annual out-of-pocket cap on prescription drug costs through Medicare Part D. This change may lead to higher co-pays or deductibles, or less generous plan benefits. Be sure to review your Part D plan to ensure it still meets your needs.
Medicare Advantage Plans: Weigh the Pros and Cons
Medicare Advantage plans typically offer lower premiums than traditional Medicare with a Medigap plan. They also provide out-of-pocket protection against catastrophic health bills and may include supplemental coverage for hearing, vision, and dental care. However, you may need prior authorization for certain types of care, and out-of-network costs can add up.
Don’t Miss the Deadline, But Know Your Options
While December 7 marks the end of the official open enrollment period, you may still be able to make changes in certain circumstances. Medicare Advantage has its own special open enrollment period starting January 1, and you may qualify for special enrollment periods if you’ve experienced a life-changing event or live in areas affected by natural disasters.
Take Control of Your Medicare Coverage
In the coming weeks, take the time to review your Medicare coverage and explore your options. By doing your homework, you can ensure you have the best coverage for your needs and minimize your out-of-pocket expenses in 2025.
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