This weekend is the deadline for changes to Medicare plans

SHERMAN, Texas (KXII) – October 15th marks the start of the Medicare open enrollment period each year.

It ends this Saturday, December 7th.

During this period, anyone already enrolled in Medicare can make changes to their plans.

“The most important thing is to understand how my plan will cover me if you are sick,” said Nicole Morgan of Morgan Medicare Solutions.

If you are already enrolled in Medicare and do not want to change your plan, you do not need to do anything as your plan will automatically renew.

“If you’re happy and you know it, sit tight,” Morgan said.

However, she said there are a few reasons why you should look for another plan, including higher prices and a change in coverage.

“The people who probably need the most change or evaluation are those who have expensive medications,” Morgan said.

Because in 2025, Part D of Medicare insurance – the part that deals with medications – will look very different.

“If we have the wrong coverage and don’t understand our plan, we could be missing out on a lot of money that we’re not willing to pay,” Morgan said.

As a result of the Inflation Reduction Act, the drug deductible has decreased from $8,000 to $2,000 after the deductible is met.

This should help countless Americans, as the Centers for Medicare and Medicaid Services (CMS) reported that as of April 1 of this year, 1.7 million Americans had already paid $2,000 out of pocket.

But in response, many companies increased their premiums, removed drugs from their insurance coverage, or raised the price of cheaper drugs.

With the deadline fast approaching, Morgan said the sooner beneficiaries review their plans or reach out to experts for help, the better.

“With Medicare, you have to have that peace of mind because of the constant changes that are happening all the time.”

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