Millions Of Seniors Should Expect Significant 2025 Medicare Changes

Some 67 million Americans are enrolled in Medicare, according to the American Association for Medicare Supplement Insurance.

"It's important to know that some significant changes are coming in 202," explains Jesse Slome, director of the advocacy information. "These changes are likely to impact millions who will want to be ready to act when Medicare's Annual Enrollment Period (AEP) begins." AEP begins October 15th 2024.

According to Slome, the Inflation Reduction Act of 2022 will result in many unintended consequences. "These will range from steep premium increases to entirely dropped plans," Slome explains. "Those changes could mean that your current Medicare Advantage or Part D Prescription Drug plans might not be the best value for the 2025 plan year."

Many Medicare prescription drug plans are expected to change. Luckily, Medicare gives all seniors a once-a-year opportunity to review costs and coverage for the coming year. According to the American Association for Medicare Supplement Insurance, doing a comparison during Medicare's Annual Enrollment Period (AEP) can save you hundreds of dollars.

Slome advises seniors watch their mail for the 2025 Annual Notice of Change (ANOC) letter from their plan carrier. "It should arrive sometime in September," Slome adds. "If you don't get one, call and request one be mailed immediately."

"Find out whether your current coverage will still be the best for your 2025 needs," Slome suggests. "Prepare a list of medications you take. When AEP begins on October 15th use one of the free online Medicare drug plan comparison tools to look up your 2025 costs."

Seniors with Medicare Advantage plan coverage should also be watchful for plan changes. A number of major Medicare Advantage plan providers have announced significant plans to stop offering coverage.

"The good news is that changes are possible during AEP," Slome says. "The bad news is that there are too few good Medicare insurance agents available to advise the 67 million Medicare beneficiaries." If you are unhappy with your plan for any reason, Slome recommends finding someone you want to work with and set an appointment now to discuss 2025 offerings. "Many Medicare agents are booked solid once Medicare's Open Enrollment begins," he concludes.

The American Association for Medicare Supplement Insurance makes available a free online directory where seniors can find local Medicare insurance agents simply by entering their Zip Code. Access the directory at https://www.medicaresupp.org/agents/. The advocacy organization also publishes information on Medicare prescription drug plans which can be accessed at https://medicaresupp.org/best-2024-medicare-drug-plans/.

AAMSI
32504 Carrie Place
Westlake Village
Jesse Slome, Director

The American Association for Medicare Supplement Insurance (https://www.medicaresupp.org) provides seniors with information regarding making better Medicare choices and supports insurance professionals who market Medicare plans

This release was published on openPR.