Newsletter

MEDICARE ANNUAL ENROLLMENT PERIOD ENDS DECEMBER 7

The Annual Enrollment Period for enrollment in Medicare Advantage, Medicare Advantage Prescription Drug, and Stand-Alone Part D Coverage ends on December 7. You must enroll by December 7 if you want to change from your present plan to a different plan beginning January 1, 2025. Please contact us at 561-734-3884 or 877-734-3884 if you have any questions about your present plan or need help enrolling in a new plan.

Unless you qualify for another election period due to circumstances such as moving outside your present plan’s service area, being affected by a weather-related emergency, or your existing plan is being terminated, you won't be permitted to make another plan change until the 2026 Annual Enrollment Period which begins October 15, 2025 and ends December 7, 2025.

Please note that there have been a considerable number of plan terminations this year, particularly in Broward County. If you’re affected by a plan termination you should have received notice of plan termination from your existing carrier. Please read and retain this letter, as you will need it to apply for certain plans such as Medicare Supplement plans with guaranteed issue rights (you don’t need to answer health questions to qualify for a Medicare Supplement if your plan is being terminated and you can produce a copy of the termination letter).

It's important that you enroll in a new plan by December 31 if your plan is being terminated. If you don’t enroll in a new Medicare Advantage or Medicare Supplement plan by that date, you'll only be eligible to be covered by Original Medicare (Parts A and B) starting January 1. You'd still be eligible to enroll in a new Medicare Advantage or Medicare Supplement plan (with or without outpatient prescription drug coverage) if you enroll by February 28. The effective date of your new plan(s) would be February 1 if you enroll by the end of January or March 1 if you enroll during February. 

2025 SOCIAL SECURITY COLA, MEDICARE PART B, AND IRMAA PART B AND D INCREASES ANNOUNCED

Social Security Cost Of Living Increase

The Social Security cost of living (COLA) benefit increase for 2025 is 2.5%, which is less than recent increases (3.2% for 2024 and 8.7% for 2023).

Medicare Part B Premium Increase 

You pay a monthly premium for Part B (providers) of Original Medicare. The fee can be higher for people with high incomes (see discussion of IRMAA, below).

Most beneficiaries will pay $185.00 for Part B in 2025, an increase of $10.30 from the $174.70 paid in 2024. (This is called the "standard" Part B premium.) The increase for 2025 is due mainly to projected price changes and assumed increases in benefits usage that are consistent with historical experience.

Because of the "hold harmless" provision, increases in Medicare premiums can't cause a person's Social Security benefits to decline from one year to the next. Unless an individual has or ever had to pay IRMAA payments (see below), an individual’s net Social Security benefit can’t decrease because of an increase in Part B premiums.

Medicare Part A

Most Medicare Part A (hospital) beneficiaries don't have to pay a monthly premium to receive coverage under this part of Original Medicare; this is called "premium-free Part A." Generally, if you've worked at least 10 years (40 quarters) and paid Medicare taxes while you worked, you're eligible for premium-free Part A. Otherwise, you pay a monthly premium.

Beneficiaries age 65 and over who have fewer than 40 quarters of coverage and certain persons with disabilities pay a monthly premium to voluntarily enroll in Medicare Part A. Individuals who had at least 30 quarters of coverage or were married to someone with at least 30 quarters of coverage may buy into Part A at a reduced monthly premium rate. This will be $285 in 2025, which is a $7 increase from 2024. Certain uninsured aged individuals who have less than 30 quarters of coverage and certain individuals with disabilities who have exhausted other entitlement will pay the full premium, which will be $518 a month in 2025, a $13 increase from 2024.

Income-Related Monthly Adjustment Amounts For 2025

Since 2007, a beneficiary’s Part B monthly premium has been based on his or her income, and since 2011 a beneficiary’s Part D (outpatient drug coverage) monthly premium has also been affected by income. These two separate income-related monthly adjustment amounts (referred to and abbreviated as “Part B IRMAA” and “Part D IRMAA”) affect roughly 8% of Medicare beneficiaries with Part B coverage, as well as about 8% of those with Medicare prescription drug coverage (Part D).

Individuals affected by the Part D IRMAA pay the adjustment amount in addition to their Part D premium. Part D premiums vary by plan.

Individuals filing single returns (as well as married individuals filing separately) with income over $106,000 for 2025 calculations and joint filers with income over $212,000 for 2025 calculations pay additional premiums both for Medicare Part B and for Medicare drug coverage (Part D). (Note: Part D IRMAA applies both to Medicare Advantage Prescription Drug Plans and separate Medicare drug coverage (Part D).

IRMAA is calculated annually based on income reported on the tax return from two years previously (i.e., 2023 income for 2025 IRMAA calculations). If no return has been filed, then they’re based on the most recent income tax return that is on file with the IRS. The income levels upon which IRMAA is based are adjusted for cost-of-living, and the various levels in the charts are periodically changed legislatively as well.

Click here to access the table that will be used to calculate Part B IRMAA for 2025.

Click here to access the table that will be used to calculate Part D IRMAA for 2025.

Individuals who have experienced one of the following life-changing events can file a form SSA-44 to request a reduction in their IRMAA if one of the following events occurs:

• Marriage
• Divorce/annulment
• Death of a spouse
• Work stoppage
• Work reduction
• Loss of income-producing property
• Loss of pension income
• Employer settlement payment

2025 MEDICARE PART A AND PART B DEDUCTIBLES, COINSURANCE, AND COPAYS

Changes To Medicare Parts A And B

Click here to see the deductible and copays for Medicare Part A in 2025.

Click here to see the Medicare Part deductible and coinsurance for 2025.

Note: These changes will NOT affect Medicare Advantage or Medicare Advantage Prescription Drug beneficiaries. Their 2025 benefits are based on contractual commitments made between carriers and Medicare, and benefits will not change because of the changes in Medicare Part A and B deductibles and copays.

Changes To Medicare Supplement Plans For 2025

Starting January 1, 2020, Medicare Supplement (AKA Medigap) plans sold to people new to Medicare aren’t allowed to cover the Part B deductible. Because of this, Plans C, F, and Hi Deductible F are no longer available to such individuals. If you already had one of these plans as of January 1, 2020 you'll be able to keep your plan, and if you were eligible for Part A of Medicare before January 1, 2020 you’ll be able to switch to one of these plans if you meet any applicable underwriting requirements. Also, if you qualify for Medicare before January 1, 2020, but are not yet enrolled, you may be able to buy one of these plans.

This chart shows basic information about the different benefits Medigap policies cover in 2025.

About Paul Cholak

Paul is a licensed, independent health and life insurance agent and has over forty years of benefits experience and specializes in helping Medicare beneficiaries obtain health insurance. However, he offers a complete array of life and health insurance products to individuals of all ages.

He guides Medicare beneficiaries through the steps of getting insurance and is available to help clients both BEFORE and AFTER they've made their purchase decision.

Disclaimer for Part C and D plans: "We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE (TTY: 1-877-2048) to get information on all your options."

Contact Us

Local: 561-734-3884 (TTY: 711)

Toll-free: 877-734-3884 (TTY:711)