We are approaching Medicare’s Annual Enrollment Period. Your Advantage Plan will be going through some changes in 2025. You will begin to see television commercials, advertisements, and receive mail regarding these plan changes, and benefits. I work with all the major carriers for Medicare Advantage Plans in your area and can help you find the best plan that fits your needs.
The 2025 Medicare open enrollment period, also known as the annual election period, is October 15–December 7. Changes made during this time will go into effect on January 1, 2025. During this period, people can enroll in a Medicare plan, switch from Original Medicare to Medicare Advantage, or vice versa.
Please review your ANOC (Annual Notice of Change) if you have any questions. If you have plan specific details, please wait until October 1st to fill out a new SOA (Scope of Appointment) if you are expecting to change your plan. Please call me at 425-256-3004 if you need help. There are some good changes, but I believe that premiums might go up.
As you may know, the Inflation Reduction Act (IRA) has resulted in significant changes to Part D including:
- Elimination of the Coverage Gap or “donut hole”.
- A new $2,000 out-of-pocket spending cap.
- A shift in cost sharing responsibility in the catastrophic coverage phase.
- A new cost sharing smoothing option (spreading the costs of your prescription drug coverage, over the calendar year rather than paying in full at the pharmacy counter each time you fill a prescription.)
Note: Preferred and Generic Tier1 and Tier2 might not have to satisfy the deductible depending on your plan.
Questions? Please give Karla a call at 425-256-3004.
