Medicare Updates & Important Dates for 2025

October 21, 2024

Helping you and your family navigate Medicare changes

What's New in 2025:

Prescription Drug Costs Limited: Starting next year, there will be a cap on how much you spend out-of-pocket for prescription medications—no more than $2,000 annually.
Expanded Mental Health Coverage: Medicare is offering more mental health support, including services like outpatient therapy, family counseling, and marriage therapy. Be sure to ask your doctor about these options at your next wellness visit to see if they could benefit you or your loved ones.
Changes to Telehealth Access: Beginning in 2025, most telehealth services will only be available if you’re in a medical facility located in rural areas. However, if you use telehealth for mental or behavioral health services, you’ll still be able to access those from the comfort of your home, no matter where you live.

Key Dates You Need to Know:

October 1, 2024: Take a moment to review your current Medicare health and drug coverage. This is the perfect time to compare plans for 2025 and see if you can save money or get better benefits.
October 15 – December 7, 2024: Medicare's annual Open Enrollment Period is here. This is when you can make changes to your health or drug plans for next year—whether you want to switch to a new plan or stick with what you have.
January 1, 2025: Any changes you made to your Medicare coverage will go into effect. If you stayed with your current plan, be aware that any new costs or benefits for 2025 will also kick in now.
January 1 – March 31, 2025: If you’re in a Medicare Advantage Plan and feel it’s not the right fit, you have one opportunity to switch plans or return to Original Medicare during this period.

Support for Caregivers:
If you’re caring for a loved one, there’s good news. Medicare is increasing support for caregivers, including training to help you feel more confident in your role and short-term relief if your loved one is in hospice care. If you’re juggling caregiving responsibilities, these resources could offer some much-needed assistance.

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