Our Annual Letter to Medicare Clients
The Medicare Annual Enrollment Period is from October 15 to December 7. As it is now October 1, 2025, we can begin discussing plan details. Below is the letter we send to our current clients, reminding them that we are here to assist not only them but anyone in need, without any fees. Our compensation comes from insurance companies based on enrollment, incurring no additional cost to the consumer!
Greetings and well wishes!
Medicare’s Enrollment Period begins soon, and we are here to help. This year brings challenges, with 2025 introducing significant changes to Part D prescription coverage.
The Inflation Reduction Act (IRA), now signed into law, will impact Medicare beneficiaries. A key change is a $2,000 out-of-pocket cap on all Part D plans, including Medicare Advantage Plans with prescription coverage. This could affect other benefits as health insurance carriers seek to retain corporate equilibrium, with one major insurer expecting to lose up to 10% of Medicare Advantage members due benefit changes. Other carriers are optimistic, offering additional plans and maintaining or enhancing high-utilization benefits.
Medicare Supplements will not change per the IRA as they do not cover prescriptions, and the Annual Enrollment Period does not apply. Medicare Supplements do not require renewal and remain active as long as monthly premiums are paid, unless the carrier exits the market. Remember, Medicare Supplements are not easy to acquire or switch outside of a guaranteed issue period, like turning 65, or leaving a plan’s service area. These plans can be purchased or changed year-round but may require a process of medical underwriting which determines plan price and eligibility, and can lead to high cost or denial of coverage.
Medicare Advantage Plans can be changed annually without considering health status. These may offer low or $0 premiums and include benefits like dental, vision, hearing, transportation, post-hospital meals, over the counter and healthy food allowances, along with built-in prescription drug coverage, which is great. However, benefits change each year and some are pricey, for example, 20% cost-sharing up to the plan’s maximum out-of-pocket for services like Durable Medical Equipment and some Part B injectable medications, not including insulin. Choice of provider may change each year, as these plans require participation in defined, limited networks (HMO and PPO). Original Medicare, in contrast, allows for visits to and care given by any Medicare-accepting provider.
We look forward to reviewing your needs to make sure you get the best coverage. Please gather and submit your updated prescription and doctor list for your Medicare plan review.
Check out our blog for additional information at DoitForMeInsurance.com/blog
Sincerely,
Joseph L. Covell