Part D Prescription Drug Coverage: Big Changes in 2025

Part D Prescription Drug Coverage: Big Changes in 2025

As part of the Inflation Reduction Act passed in 2022, there are major changes impacting Medicare Part D Prescription Drug Coverage that enrollees need to know about. Some of changes have already been in effect, like $0 copays for Part D covered vaccines, and eliminating cost-sharing in the Part D catastrophic coverage phase (members who…

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Paying for Medicare: What, when, how, and who do you pay for your Medicare?

One of the most confusing aspects for people new to Medicare, is what you need to pay, how, when and to whom. And the consequences for missed or late premium payments can be serious, like canceled coverage and unexpected medical bills. To help avoid this stressful situation, we have outlined the Medicare premiums you’ll want to monitor and…

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Medicare Premium, Deductible, Cost-Sharing and Other Changes for 2024

Medicare 2023 Changes Medicare Premium, Deductible

The Centers for Medicare & Medicaid Services (CMS) update Medicare premiums, deductibles, and coinsurance amounts for Part A and Part B, and the Medicare Part D income-related monthly adjustment amounts known as IRMAA annually. CMS recently announced the 2024 changes and we’ve summarized these below. Medicare Part B Premium & Deductible The standard monthly premium…

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Understanding Part D Coverage and Costs

Medicare Part D prescription drug coverage may just be the most confusing part of Medicare, but it’s getting easier starting in 2025.  Estimating your annual prescription drug costs goes beyond just looking at the monthly premium of your plan. Part D costs also depend on: Below we explain more about these factors so you can…

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Preparing for Medicare’s Annual Enrollment Period

Preparing for Medicare’s Annual Enrollment Period

Like other health insurance plans, Medicare offers a yearly enrollment period that allows for people to enroll in new plans or make changes to their existing coverage. Whether you’re new to Medicare or have had a plan for years, this Annual Enrollment Period (AEP) is an important time when it comes to your coverage. Read…

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What if a Medication is Not Covered by your Part D Plan?

Medicare Part D is a prescription drug insurance plan for people with Medicare provided through private insurance companies that contract with the federal government. Eligible individuals can choose to enroll in either a stand-alone prescription drug plan (PDP) or a Medicare Advantage plan that provides Part D prescription drug coverage (MAPD).  Every Part D plan has…

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Medicare Coverage for Diabetes

Costs Diabetes is reported in 1 and 5 Medicare beneficiaries aged 65 and older and is associated with over 60% higher out-of-pocket prescription costs compared to those without diabetes. However, there have been significant recent policy developments impacting costs, including Medicare’s new monthly and annual out-of-pocket caps on insulin. As part of the Inflation Reduction…

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Medicare & Mental Health Coverage

It is estimated that 1 in 5 Americans deal with some sort of mental health issue every year – meaning that many of us will struggle with mental health at some point in our lives. Seniors may be more at risk, since they are more likely to face life events and obstacles that lead to…

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What is Long-Term Care Insurance and Why Might I Need It?

By Liz Eshleman The need for long-term care can come quickly – for instance, due to a car accident or skiing injury – or more slowly, due to a diagnosis of MS or Parkinson’s, or from the simple frailty that can come with aging. You may have heard the term often, but what exactly is…

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Considering Adding an Individual Dental or Vision Insurance Plan?

Here Are Tips to Help You Evaluate Your Decision. Are you considering adding coverage for dental and/or vision? If so, there are a few things to consider before deciding whether it’s worth it to enroll, and if so, which plan to enroll in. Let’s start with the basics of these kinds of plans which may…

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