Medicare Open Enrollment: Tips for Beneficiaries on Coverage Review

Medicare beneficiaries enrolled in Medicare Advantage or Medicare Part D are reminded to re-enroll annually between October 15 and December 7. A significant number, nearly 70%, fail to review their coverage options, risking higher costs due to changes in plan premiums and coverage. The Centers for Medicare & Medicaid Services has announced important changes for 2025, including a cap on out-of-pocket medication expenses at $2,000. Beneficiaries are encouraged to evaluate their current plans for potential savings and benefits. New support programs, such as the GUIDE initiative, will also be available for caregivers of patients with dementia.