Medicare Open Enrollment 2025 Underway Amid Rising Prescription Costs, Plan Adjustments Nationwide

Medicare Open Enrollment, running annually from October 15 to December 7, is a critical period for those 65 and older to evaluate and adjust their health coverage to suit their evolving needs. Medicare consists of several parts: Part A covers hospital services typically premium-free for those who have paid into Social Security; Part B covers outpatient services and requires a monthly premium with additional out-of-pocket costs; Part C, or Medicare Advantage, is an all-in-one plan offered by private insurers that often includes extra benefits; and Part D provides prescription drug coverage. Medigap policies are supplemental plans that help cover costs not paid by Original Medicare, such as copays and deductibles. Experts warn of complexities and potential pitfalls, including conflicts of interest where agents might earn more selling Medicare Advantage plans, which could influence recommendations. Annual review during open enrollment can lead to savings and better coverage options, but retirees must navigate a confusing landscape of premiums, coverage changes, and hidden costs.