In 2025, the new prescription plan model goes into effect. This affects both standalone prescription plans and the Medicare Advantage with Prescription Plan included.
The good news is that there is now going to be a $2,000 out of pocket limit for each senior to spend on covered prescription drugs. Also, if a drug is expensive to purchase, Medicare beneficiaries can now request a payment plan and the cost of the prescription will be divided over the months left in the year. The recipient pays the amount owed to the prescription insurance carrier.
The other side of this is that it will affect prescription plan costs. At the time of this writing, we have not received any information about costs for 2025. I will update this blog when I get the update. We do expect the premium cost to be higher. We also expect that the deductible will also be more expensive. Deductible is how much the beneficiary pays before the insurance company starts covering the drug.
Will update this blog when I receive more information.
