Medicare Updates for 2025: What Beneficiaries Need to Know

• As 2025 approaches, several changes to Medicare are set to impact beneficiaries. Medicare Part B, which covers outpatient care and services, will see its standard monthly premium rise to $185, an increase of $10.30 from 2024. Additionally, the annual deductible for Part B will go up to $257. Part A, covering hospital services, will also see slight increases in deductibles and coinsurance, while premiums for those who don't qualify for premium-free Part A will rise modestly

• One of the most significant updates is the introduction of a $2,000 annual out-of-pocket spending cap for Medicare Part D prescription drug plans. This change is expected to provide relief for beneficiaries managing high medication costs. Additionally, the "donut hole," a coverage gap in Part D, will be eliminated, simplifying costs for beneficiaries. While the average premium for standalone Part D plans will decrease slightly, actual costs may vary depending on individual plans.

• To make the most of these updates, beneficiaries are encouraged to consult with experts to review and adjust their Medicare plans. Understanding these changes ensures better management of healthcare expenses in 2025. Bass Insurance Solutions is ready to guide you through these adjustments and help you select coverage that meets your needs. Contact us today to learn more.