Plan Ahead: Key Steps for Your 2025 Medicare Choices

The Medicare plan you select each year influences the benefits available to you, as well as your out-of-pocket costs. Currently, you can establish a new Medicare plan for 2025 during the open enrollment period, which is now underway.

Although Medicare open enrollment began over a month ago, there are still a few weeks left for you to alter your coverage for 2025. However, since this opportunity ends on December 7, it is advisable not to delay your decision too long. Here are some essential actions to consider in the upcoming weeks.

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1. Review Your Current Plan’s Notice of Change

You may be opting out of switching plans this year because you’re happy with your current coverage. However, it’s crucial to confirm you’re up to date on all the modifications slated for your plan in 2025.

Before you firmly decide against changing Medicare plans, take the time to read the notice of change for your current plan. Even small adjustments, such as a provider no longer being in-network, can significantly influence your coverage and costs.

2. Evaluate Your Health Changes

Your current Medicare plan might remain unchanged in 2025, but your individual health needs could have evolved.

Begin by documenting the medications you take, including their dosages. Additionally, make a list of any key health issues you have.

By having this information at hand, you’ll be better equipped to explore different plan options for 2025. This will also assist in determining whether to keep your existing plan or switch to a new one, regardless of its modifications.

3. Understand Your New Plan’s Rules and Benefits

If you’ve been researching your Medicare choices since the start of open enrollment, you may be ready to finalize your plan for 2025. Yet, ensure you grasp all the details of how your new plan operates before making a commitment.

For a Part D plan, check the premiums and the copay amounts for your prescribed medications. If you’re considering a Medicare Advantage plan, find out if there’s an additional premium on top of Part B costs. Review included supplemental benefits and evaluate what various services may cost. Lastly, verify which healthcare providers are in-network to avoid unexpected challenges when seeking care.

While the deadline to modify your Medicare coverage for 2025 is nearing, there is still time to make informed choices. Aim to check off these tasks by December 7 to ensure your healthcare coverage meets your needs effectively in the coming year.

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