Year-End Medicare Checklist: Ensure You’re Prepared for 2025

A Step-by-Step Guide to Reviewing and Optimizing Your Medicare Coverage for the Upcoming Year

Introduction:

As the year draws to a close, it's time to reflect on your Medicare coverage and ensure that you’re fully prepared for 2025. Medicare plans and benefits often change annually, and failing to review your coverage could lead to higher costs or limited access to services. With this comprehensive checklist, you can confidently prepare for the upcoming year and make the most of your Medicare benefits.

1. Review Your Current Medicare Plan

Take a close look at your current Medicare plan, whether it's Original Medicare, a Medicare Advantage plan, or a Medicare Part D prescription drug plan. Ask yourself:

• Have your healthcare needs changed over the past year?

• Are your current doctors, hospitals, and specialists still in-network (if applicable)?

• Are your prescriptions still covered, and have any tiers or co-pays changed?

By answering these questions, you can identify any gaps in your coverage that may need adjustment.

2. Compare Medicare Plans for 2025

Medicare Open Enrollment (October 15 – December 7) provides an opportunity to switch plans. Even if you’re satisfied with your current plan, comparing other options could save you money or offer better coverage. Utilize the Medicare Plan Finder tool to:

• Compare costs, including premiums, deductibles, and out-of-pocket maximums.

• Check for enhanced benefits like vision, dental, or hearing coverage.

3. Evaluate Your Prescription Drug Needs

Medicare Part D plans can change their formularies each year, potentially affecting your medications. Review:

• Which of your prescriptions are covered.

• Any changes to the cost or tier of your medications.

• Whether a new plan might offer better coverage for your needs.

Switching plans may result in significant savings, especially if you take multiple prescriptions.

4. Schedule Preventive Care Services

Medicare covers several preventive services, often at no cost to you. Before the year ends, ensure you’ve taken advantage of these benefits:

• Annual Wellness Visit: This is your yearly opportunity to create or update your personalized prevention plan.

• Screenings: Coverage includes mammograms, diabetes screenings, and cardiovascular tests, among others.

Preventive care helps you stay healthy and catch potential issues early.

5. Check for Upcoming Changes in Medicare Rules

Every year, Medicare adjusts its rules and benefits. Stay informed about updates for 2025, such as:

• Changes to premiums, deductibles, or out-of-pocket limits.

• Introduction of new benefits or expanded coverage for specific treatments.

• Any changes to telemedicine or home healthcare services.

Knowing these changes ensures you’re not caught off guard.

6. Confirm Enrollment Deadlines

If you’re considering switching plans, don’t miss the Open Enrollment deadline (December 7). Additionally, if you qualify for a Special Enrollment Period due to life events like moving or losing employer coverage, make sure you understand your eligibility and deadlines.

Conclusion:

Taking a proactive approach to your Medicare plan ensures peace of mind and better healthcare outcomes. By following this year-end checklist, you can avoid surprises in 2025 and ensure your coverage aligns with your needs. If you need guidance, don’t hesitate to contact a Medicare advisor for personalized assistance. 

Written by Gennady