Medicare Announces Changes for 2025

 

The Medicare Part A deductible covers the first 60 days of inpatient hospital care. Currently the Medicare Part A deductible is $1,632. In 2025 it will increase to $2,870, that a $590 dollar increase. Additionally, Medicare Part B premiums are set to rise in 2024. The standard monthly premium will be $174.70, an increase of $9.80 from the 2023 rate. Additionally, the annual deductible will be $240, up $14 from last year.

Another significant Medicare change is the annual out-of-pocket cap for prescription drug costs in Part D. This cap is set at $2,000, meaning that once a beneficiary reaches this limit, they will no longer have to pay for their medications for the rest of the year. Also, the "donut hole" coverage gap, where beneficiaries had to pay full price for their medications, is eliminated. This helps reduce the financial burden on seniors. Additionally, You'll pay 100% of your drug costs until you reach the $590 deductible for 2025. Furthermore, Once you've reached the catastrophic coverage phase, you won't have any additional out-of-pocket costs for your medications in 2025. This means Part D enrollees can save around $1,300 on their drug expenses compared to 2024. With that being said Medicare Advantage Plans with Part D could lead to higher costs or reduced drug coverage.

Expanded Mental Health Care: Medicare now covers more mental health services, including intensive outpatient programs and services from marriage and family therapists and mental health counselors.

Telehealth Services: While the expanded telehealth coverage from the pandemic has been partially rolled back, certain telehealth services, especially for mental health, can still be accessed from home.

To learn more about the upcoming changes to Medicare and to see if your Medicare Advantage plan has any changes for 2025. Don’t hesitate to click here and a licensed agent will be in contact or you may call 954-598-5109