{"id":414699,"date":"2024-10-21T23:00:00","date_gmt":"2024-10-21T23:00:00","guid":{"rendered":"https:\/\/www.saipantribune.com\/?p=414699"},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-29T14:00:00","slug":"Medicare-Open-Enrollment-Runs-Through-Dec-7","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/Medicare-Open-Enrollment-Runs-Through-Dec-7\/","title":{"rendered":"Medicare Open Enrollment Runs Through Dec. 7"},"content":{"rendered":"

Reviewing your Medicare options could save you money<\/h2>\n<\/p>\n

(Family Features) If you\u2019re enrolled in Medicare, it\u2019s important to remember Medicare Open Enrollment runs from Oct. 15 through Dec. 7 each year. This is the time for people with Medicare to compare their prescription drug and health coverage options for the upcoming year.<\/p>\n

It is important to compare your options because plans can change every year \u2013 even your current choice may be changing. Your health needs can change, too. By comparing all your options, you could save money, find a coverage option better tailored to you or both. By reviewing and comparing coverage, people can see if there are better options based on changes to their current plan, personal budget and health needs.<\/p>\n

New This Year<\/strong><\/h3>\n<\/p>\n

<\/strong>The new prescription drug law is lowering out-of-pocket costs on covered prescriptions. New in 2025, all Medicare plans will include a $2,000 annual cap on what you pay out-of-pocket for prescription drugs under Medicare Part D. The cap only applies to drugs that are covered by your plan, so it\u2019s more important than ever to review your plan options to make sure your drugs are covered. That means you will not pay more than $2,000 in 2025 on prescription drugs covered under Medicare prescription drug coverage \u2013 that includes expensive prescription drugs to treat cancer, chronic illnesses and more.<\/p>\n

This is in addition to improvements already in effect due to the prescription drug law including a $35 cap on a month\u2019s supply of each covered insulin product \u2013 and no out-of-pocket costs for recommended adult vaccines covered under Part D, including the shingles vaccine.<\/p>\n

Also starting in 2025, you can choose to spread your out-of-pocket drug costs across the calendar year instead of paying all at once at the pharmacy. It\u2019s called the Medicare Prescription Payment Plan. You can opt in with your plan in advance of Jan. 1 and throughout 2025.<\/p>\n

How to Compare Prescription Drug and Health Coverage Options<\/h3>\n<\/p>\n

Medicare.gov<\/a> is the official source for information about Medicare and Open Enrollment. Start here<\/a> to get unbiased information to find the type of coverage that best meets your needs.<\/p>\n

Comparing prescription drug and health coverage options is easy at Medicare.gov<\/a>. Get started by clicking on \u201cFind Plans.\u201d Then enter your ZIP code, current prescriptions and favorite pharmacies. You will see a side-by-side comparison of the total cost for all the plans in your area, including the premium and how much you\u2019ll pay for your prescriptions. You\u2019ll also be able to see what plans cover your prescriptions and whether some plans offer extra benefits. If you are happy with your current choice, you don\u2019t have to do anything. If you choose a new option for 2025, you can enroll on Mediare.gov<\/a>.<\/p>\n

Before you enroll in a plan, consider this advice:<\/p>\n