Financial Planning
What’s New in Medicare for 2025Every year, we encourage our clients enrolled in a Medicare Part D stand-alone prescription plan to take a few minutes to verify that their existing plan remains the best option for them. For the 2025 plan year, there’s a little more urgency, as some big changes are occurring that have never been a factor before.
Starting in 2025, Medicare is setting a $2,000 cap on out-of-pocket drug costs for those with Part D drug plans. From brokers I have spoken with, this has caused a lot of turmoil in this market as some providers are changing what drugs will be covered under their formularies, co-pays, deductibles, and coverage of brand versus generic. If you were happy with your Part D drug plan in 2024, it could be a different story in 2025.