It’s almost that time of year again – Medicare’s Annual Enrollment Period begins October 15th and runs to December 7th. This is the time of year when Medicare beneficiaries have the opportunity to review their current Part D and Medicare Advantage Plan coverage and make any changes that will take effect January 1st 2025.

FSB Premier Wealth Management will be here to help you navigate the world of Medicare and provide answers to the questions you may have. They will be putting on Medicare events that will be open to the public in an effort to keep our community informed on these changes and updates. These events will be held October 16th & 23rd and November 7th at 3:30. They have also offered the option of providing individual cost and coverage reviews with those of you who may prefer to discuss your situation in a more private setting.

Many Medicare beneficiaries will see changes to their Part D prescription drug plans and Medicare Advantage plans for 2025. Annual Notice of Change (ANOC) packets have gone out and will detail these changes. Beginning in 2025, The “donut hole” will be eliminated and out-of-pocket drug costs will be capped at 2,000 for the year. With these changes, we expect some plans to raise premiums and adjust copays to balance out the costs.

For those of you who have a Medicare supplement, premiums are projected to increase 10-14%. This is due to higher claims over the past couple years and record inflation. During the COVID-19 pandemic, many people delayed non-urgent medical services, which is now impacting premiums.

Call FSB Premier at 319-235-6561 with any questions or if you would like to schedule an appointment.

Disclaimer: We do not offer every plan available in your area. Currently we represent 8 organizations which offer 48 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance program to get information on all of your options. Not connected with or endorsed by the United States government or the federal Medicare program.

Written By: Bob Hanson and Jennifer Marlin of FSB Premier Wealth Management, Inc.