If you are a Medicare Advantage enrollee, it is important to review your coverage during the upcoming open enrollment period to avoid potential surprises in your healthcare costs and benefits for 2025.
Important Changes for 2025
The Medicare Advantage market is experiencing significant changes that could affect your coverage:
- More than 1.8 million members are enrolled in plans that won’t be offered in 2025
- About 1.3 million of these are currently in $0 premium plans
- Humana and Aetna are making the most substantial changes, affecting about 10% of their membership
What You Need to Know
Drug Coverage
- Many plans are introducing deductibles for some drugs, particularly brand-name and specialty medications
- About 36% of enrollees in plans with prescription drug coverage will see drug deductibles rise by at least $200
Supplemental Benefits
- Some insurers are reducing allowances for dental, hearing, and vision benefits
- There may be cuts to benefits for over-the-counter medicines and flexible spending cards
Action Steps
- Review your Annual Notice of Change carefully to understand what’s changing in your plan for 2025
- Compare your current plan with other available options in your area
- Pay attention to drug coverage changes, especially if you rely on specific medications
- Consider the full range of benefits, not just premiums, when evaluating plans
Remember, if your current plan is being discontinued and you don’t choose a new one, you may be automatically enrolled in traditional Medicare. It’s essential to be proactive in selecting a plan that best meets your healthcare needs.
