Medicare tweaks for 2025

 This time of year, as we’re ramping up to open enrollment for Medicare starting October 15th, there’s always some tweaks and changes and there’s one in particular this year I’ll be explaining to my clients and others needing help with Medicare. There’s a New $2,000 annual cap on out-of-pocket prescription costs: Beginning in 2025, people with Part D plans won’t have to pay more than $2,000 in out-of-pocket costs, thanks to a provision in the Inflation Reduction Act of 2022. The $2,000 cap will be indexed to the growth in per capita Part D costs, so it may rise each year after 2025. Part D enrollees will also have the option of spreading out their out-of-pocket costs over the year rather than face high out-of-pocket costs in any given month. This new rule applies only to medications covered by your Part D plan and does not apply to out-of-pocket spending on Medicare Part B drugs. Part B drugs are usually vaccinations, injections a doctor administers, and some outpatient prescription drugs. To find out more you can make a no cost, no obligation appointment by calling 320-679-5183.