Medicare Prescription Drug coverage is improving in 2025! You either have part D drug plan coverage on a standalone policy or built into your Medicare Advantage plan with RX.
In either case, beneficial changes will take place effective January 1st, 2025. You will have a maximum out of pocket, (MOOP,) of only $2000. This means your share of the costs for your medications are capped at $2000 for the year.
Additionally, there will be changes in the formulary, (list of covered drugs,) so it will be important to evaluate your plan. You will receive an Annual Notice of Change, (ANOC,) by October 1st, 2024, outlining your present plan and how it changes for 2025. You can then choose to make changes between October 15th through December 7th of 2024. (This is the Annual Open Enrollment Period each year.)
It is expected that most plans will have an increased monthly premium because of the enhanced coverage so it is even more important to review your present coverage. Please feel free to call us with any questions you may have.