Medicare Changes In 2024 And 2025 Affect Prescriptions, Vaccines And More

This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
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Weekend Reading

Medicare costs are increasing. This year, we're seeing higher premiums and deductibles, along with changes to the Part D "doughnut hole" coverage gap for prescription drugs.

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Additionally, expanded telehealth coverage has been extended, but it's set to expire at the end of 2024 unless Congress takes further action.

There are also changes to Medicare's open enrollment periods, which might be a good opportunity to re-evaluate your coverage. If you're a higher-income earner, be aware of surcharges on your premiums. And if you have significant prescription drug needs, understanding the phase-out of the coverage gap is crucial.