Transition Health Benefits’ Post

Medicare Part D drug coverage has been around since 2006, and most years there is only slight changes to the coverage. However, this year we are seeing MAJOR changes of prescription drug coverage for people on Medicare. I would venture to say this is the BIGGEST change in Medicare drug coverage since the START of RX plans in 2006! From carriers leaving the market, to plans being terminated and people getting migrated to new plans, to the formulary lists being changed, these are all reasons why many people are shopping and/or paying attention this year. My latest video not only goes over these changes, but also talks about how the gov't "Does the Math" on the new $2k Out of Pocket maximum. (HINT: it's goofy!) Lastly, I discuss WHY shop, WHO should shop, and HOW to shop this year. Check it out: https://lnkd.in/gwZrSNre As always, thank you for your support and sharing this with family and friends! We greatly appreciate this.  Cathy

Understanding Medicare is as simple as ABC... and D! Just like the alphabet, Medicare is divided into four parts: A, B, C, and D. If you're 65 or older, it's crucial to grasp how each part works to make informed healthcare decisions. Let's breakdown the structure: Medicare Part A covers hospital care Medicare Part B covers medical services Medicare Part C offers Advantage Plans Medicare Part D provides prescription drug coverage If you have additional questions following this overview, please reach out to www.riversedgewealth.com. #riversedgewealthpartners #understandingmedicare #rewp #redbanknj #understandingmedicarerewp Tara (Eirich) McCarten

#IBTV: Medicare Part D plays a crucial role in covering prescription drug costs for your clients, but are they making the most of it? In the latest IBTV edition, Humana's TJ Gibb shares essential tips for brokers and agents to guide their clients effectively. Watch here: https://hubs.la/Q02LH4cQ0 #MedicarePartD #HealthInsurance #ClientCare #Brokers

📢 Medicare Open Enrollment is Here! 🏥 From October 15 to December 7, it’s time to review your Medicare coverage and make any necessary changes for 2025. Whether you’re looking to switch plans, add coverage, or simply understand your options, we’re here to help! ✅ Not sure if your current plan meets your needs? ✅ Confused about Medicare Advantage, Medigap, or Prescription Drug Plans? Don’t navigate the process alone! At Greensmart Financials, we’re ready to guide you through every step. Reach out today for personalized, expert assistance with your Medicare options. 📞 Contact us now to schedule your free consultation! #MedicareEnrollment #HealthcarePlanning #GreenSmartFinancials #MedicareAssistance #MedicareOpenEnrollment #FinancialPlanning

Medicare 2025 AEP starts today. Whether you are enrolled in Medicare or you have a family member who has enrolled, this is a year where you can not just default to auto-renewal. Huge changes to prescription drug plans may mean that drugs are no longer covered and are now subject to uncapped out of pocket expenses. We're seeing credit union members facing $10k+ in annual out of pocket expenses after their plan coverage has changed. Whether its for Mom and Dad... or your members read this Silvur 1 pager to learn about the important changes to Medicare. https://lnkd.in/extiN_YU

#IBTV: Medicare Part D plays a crucial role in covering prescription drug costs for your clients, but are they making the most of it? In the latest IBTV edition, Humana's TJ Gibb shares essential tips for brokers and agents to guide their clients effectively. Watch here: https://hubs.la/Q02KMskZ0 #MedicarePartD #HealthInsurance #ClientCare #Brokers

Some tips on how to prepare now for the expected 2025 Medicare Part D changes.

4 things you need to know about Medicare drug costs and coverage in 2025 https://lnkd.in/gwYRAAUp

How long has it been since you’ve reviewed your Medicare policy? With open enrollment beginning soon, there are a few questions you may want to ask before you renew, add, drop, or switch coverage. Have you changed or added doctors? Have your prescription drug needs changed? Does your current Medicare plan cover everything you need? You can make changes during the fall open enrollment period from October 15-December 7. Reviewing your Medicare coverage is important to your financial strategy.

How to Decide if Medicare Part D is Right for You Although most federal annuitants might benefit from keeping Part D, there are three instances where you could benefit from opting out. The Inflation Reduction of Act of 2022 included improvements to Medicare Part D, and some have already been enacted—$35 insulin, no more member cost share in the catastrophic phase of coverage, and limits on premium increases. Next year, all Part D plans must include a $2,000/year maximum out-of-pocket limit per enrollee. To help federal annuitants take advantage of these improvements, OPM allowed FEHB carriers to offer Part D plans this year if they provide prescription drug coverage that, when combined with the FEHB Program coverage, is equal to or better than what’s available through the FEHB plan coverage alone. Click on link to find out more. https://bit.ly/4dTuQ6I