Big changes are coming to Medicare Part D in 2025, making prescription drugs more affordable. Here’s what to expect:
- New $2,000 Out-of-Pocket Cap –
Once you reach this limit, you won’t pay anything for covered prescriptions.
- Updated Deductible –
You’ll pay 100% of costs until your deductible is met.
- Simplified Coverage Phases
– After the deductible, you’ll pay 25% coinsurance until reaching the $2,000 cap. After that, no more out-of-pocket costs for the year.
- "Donut Hole" Coverage Gap Eliminated –
No more gaps in coverage.
If you have a lower income, the Extra Help program may reduce your costs even further. Contact Maichel Retirement Solutions today to learn how these Medicare Part D changes may benefit you.
