Ballinger Benefit Services
Don't Miss Out: Your Guide to Medicare Open Enrollment 2025
The leaves are changing, the air is getting crisp, and a very important annual deadline is approaching: Medicare Open Enrollment. From October 15 to December 7, this is your chance to review and change your Medicare coverage for the upcoming year. While it might seem like a chore, taking the time to compare your options could save you money and ensure you have the best coverage for your health needs in 2025.
9/25/20252 min read
What is Medicare Open Enrollment?
Medicare's Annual Election Period, more commonly known as Open Enrollment, runs from October 15 to December 7 every year. This is the period for anyone already on Medicare to make changes to their health and prescription drug coverage. Changes you make during this time will go into effect on January 1, 2025.
During this period, you can:
Switch from Original Medicare (Parts A & B) to a Medicare Advantage Plan (Part C).2
Switch from a Medicare Advantage Plan back to Original Medicare.3
Change from one Medicare Advantage Plan to anothe4r.
Enroll in a Part D prescription drug plan.
Change from one Part D plan to another.
Even if you are happy with your current plan, it's wise to review it. Plans can change their costs, covered services, and prescription drug lists (formularies) from year to year. The plan that worked for you in 2024 might not be the best fit in 2025.
3 Steps to Prepare for Open Enrollment
To make the most of this period, here’s a simple checklist to follow:
Review Your Current Plan: Get your Annual Notice of Change (ANOC) and Evidence of Coverage (EOC) from your current plan. These documents detail any changes for 2025. Pay close attention to premiums, deductibles, copays, and any changes to the network of doctors and hospitals.
Make a List of Your Medications: Create a list of all your current prescriptions, including the dosage and frequency. Use the official Medicare Plan Finder tool at Medicare.gov to see which plans cover your specific drugs and what your costs will be under each one. This is crucial with the new out-of-pocket cap.
Compare Plans: Use the Medicare Plan Finder tool at Medicare.gov to compare your current plan with all the other options available in your area. Look beyond just the premium. Consider the total out-of-pocket costs, including deductibles, copays, and the estimated cost for your specific drugs.
Get Help If You Need It
Navigating Medicare can be complex, and you don't have to do it alone.
Medicare.gov and 1-800-MEDICARE: The official sources for all things Medicare. You can use their website to compare plans and call their helpline for assistance.
Schedule a free consultation: You can schedule a free consultation with a licensed Medicare representative. Schedule your 30 minute appointment at the link below. https://calendly.com/ballingerbenefitservices-info/30min
State Health Insurance Assistance Programs (SHIPs): These programs offer free, unbiased, and personalized counseling to Medicare beneficiaries. You can find your local SHIP at shiphelp.org.
Don't wait until the last minute. Mark your calendar for October 15 to December 7 and take action to ensure your Medicare coverage works for you in 2025!