Your Quarterly Medicare Newsletter

Now is a great time to examine Medicare enrollment and the features offered by both traditional and Medicare Advantage plans. It’s also a good time to investigate how Medicare has changed since last year. For instance, did you know the Inflation Reduction Act caps covered out-of-pocket insulin and adult vaccine costs and limits premium increases and out-of-pocket drug costs for Medicare Part D enrollees beginning in 2025?^1,2

Get Your Wellness Check Before the End of the Year!

Have you had your annual wellness check for 2024? If not, you may want to schedule it before the end of the year. Those who have had Medicare Part B for a year or more get a free annual checkup to work with their doctor on their personalized prevention plan against disease and disability.¹

Changes Coming to Medicare in 2025

The Inflation Reduction Act will make several positive impacts on Medicare, such as allowing Medicare to negotiate directly with drug manufacturers to lower the price of expensive brand-name drugs, resulting in lower cost-sharing for Medicare beneficiaries. The law also caps out-of-pocket costs for covered insulin and adult vaccines, and it limits premium increases and out-of-pocket drug costs for Medicare Part D enrollees. Low-income individuals will receive expanded financial assistance with prescription drug costs.

Medicare will publish a list of drugs selected for price negotiation, and manufacturers who don’t comply with the negotiation requirements will face penalties. These changes also apply to drug coverage in Medicare Advantage plans. Individuals who don’t take prescription drugs will benefit from lower costs for Part D-covered vaccines. Medicare beneficiaries should review and compare their health and drug plan options during Open Enrollment. The Inflation Reduction Act does not impact Marketplace coverage, but the enhanced financial help for Marketplace coverage will continue through 2025.²

Get Your Flu Shot

It’s flu shot time again. This year, the CDC recommends a flu shot or a live attenuated flu vaccine, which is administered as a nasal spray. This recommendation extends to everyone six months old or older, particularly those who are at risk of flu-related health complications. Talk to your doctor if you have concerns or special considerations regarding the influenza vaccine.³

Santorini, Greece.

January 1: Medicare General Enrollment Begins
January 1: Medicare Advantage Enrollment Begins
January 15: Medicare Advantage/Part D Rate Release
March 31: Medicare General Enrollment Ends
March 31: Medicare Advantage Enrollment Ends
April: Flu Season Ends 
September: Private plans send notice if there will be any change in cost, coverage, or service area
October 15: Medicare Open Enrollment Period Begins
November: Flu season begins 
November (Estimated): Medicare Parts A & B Premiums & Deductibles Announced
December 7: Medicare Open Enrollment Ends

^{1. Medicare.gov, September 19, 2024}

^{2. CMS.gov, September 19, 2024}

^{3. CDC.gov, September 19, 2024}