I’d like to raise awareness of anticipated changes for 2025 with all Medicare Part D prescription drug plans. The Inflation Reduction Act that was signed into law August 16, 2022, has gradually adjusted the Part D program since January 2023. It will be fully implemented January 1, 2025.

Although the Inflation Reduction Act was an attempt to lower the cost of prescription drugs, it shifts financial burden from Medicare onto the PBMs (Pharmacy Benefit Managers who manage the drug plans) and manufacturers. This transfer of cost will negatively affect all Medicare Part D drug plans going forward.

What we expect:

Higher premiums (particularly with standalone drug plans) Fewer plan choices More restrictive formularies More drug utilization management *Reduction of some benefits in Medicare Advantage plans

More so than any other year, it is imperative that Medicare eligible individuals prepare early for the annual enrollment period October 15th through December 7th. Although agents are forbidden to talk about plan specifics before October 1, 2024, we can accomplish several things prior to October 1.

Updated drug list Updated doctor list Decide which plan benefits are important to you (Medicare Advantage clients) Complete the required Scope of Appointment (required for everyone) *If you are on a standalone PDP, decide the maximum monthly premium you can afford

Some of you, due to the anticipated increase in premiums of standalone prescription drug plans (those of you on Medicare Supplements with a standalone prescription drug plan), may want to compare your current health plan with a Medicare Advantage option. Although this will not be plan specific, we can discuss the difference between your options so that you can make the best choice for you when the time comes.

Please reach out to get on our calendar if you’d like. As always, our services are at no charge, so prepare early to get assistance if needed.

Want to come find out more? Come learn about other changes including options that will allow you to pay over time for your medications on Medicare Part D plans.
I am hosting a presentation at the Eagle View Adult Center on July 10 if that works for you, please call 303-887-8584 to RSVP or scan the QR code on the adjacent Ad to sign up.

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We do not offer every plan available in your area. Currently we represent 10 organizations which offer 106 products in your area.Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.