Medicare Changes: 2025 Advantage and Part D Updates

The Medicare open enrollment period, running from October 15 to December 7, introduces several significant changes for 2025 that beneficiaries should carefully consider. These changes include a $2,000 cap on out-of-pocket spending for Part D prescription drug plans and the elimination of the 'donut hole', making prescription drugs more affordable. Medicare Advantage plans are also experiencing substantial changes, and beneficiaries must review their options as some plans will not be available in 2025. Notably, around 1.8 million Medicare Advantage members will need to select new plans, affecting Vermonters as MVP and WellCare leave the market. Free assistance for plan comparison and selection is available through programs such as LIFE Senior Services and state health insurance programs. It is crucial for beneficiaries to review their plans and be aware of potential scams during this period to avoid financial losses.