Important Open Enrollment Dates and Medicare Changes for 2024-2025

Open enrollment is a crucial time for individuals seeking health coverage, whether through the Marketplace or Medicare. To make sure you have all the information you need, we’ve broken down key dates and upcoming changes into easy-to-understand language.

Key Open Enrollment Dates

• November 1, 2024: Open Enrollment Begins – Mark your calendars! November 1 is the first day you can enroll in, renew, or change your Marketplace health plans for the upcoming year. This is an essential window to ensure you have the coverage you need

• December 15, 2024: Last Chance for January Coverage – If you want your coverage to start on January 1, 2025, make sure to enroll or make any necessary changes by December 15. This is the deadline for those looking to kick off the new year with fresh health insurance.

• January 15, 2025: Open Enrollment Ends – January 15 is the final day for open enrollment. After this date, you can only enroll or change your Marketplace plans if you qualify for a Special Enrollment Period due to specific life events.

Special Enrollment Opportunities

Remember, if you qualify for a Special Enrollment Period, you may enroll in or change your plans outside of these open enrollment dates. Additionally, Medicaid and the Children’s Health Insurance Program (CHIP) enrollment is available year-round for eligible individuals.

Upcoming Medicare Changes in 2025

As you navigate your options during open enrollment, it’s also crucial to understand the changes coming to your coverage.

• Enhanced Address Updates: States must use reliable sources like USPS to update beneficiary addresses to prevent coverage loss due to administrative errors. Compliance is required by December 2025.
• Extended Information Request Timelines: Beneficiaries now have 15 days to respond to application requests and 30 days for changes or renewals. States must implement this by June 2027.
• Smoother Medicaid and CHIP Transitions: Eligibility determinations from one program must be accepted by the other to reduce coverage gaps for children.

Capping Out-of-Pocket Spending

Starting in 2025, Medicare Part D plans will cap out-of-pocket spending on covered drugs at $2,000 per year. This is a significant shift to simplify the Part D structure, which previously had four phases of coverage. The cap includes deductibles, copayments, and coinsurance for covered medications, making it easier for beneficiaries to manage their healthcare costs.

Other Key Medicare Changes

• Insulin Cost Cap: In 2023, Medicare capped the cost of covered insulin at $35 per month.
• Expanded Financial Assistance: In 2024, the government expanded eligibility for financial assistance through the Part D Extra Help program.
• Enhanced Benefits: New benefit options for 2025 will include coverage for hearing aids, dental care, and vision services.

Important Considerations

The new cap does not cover premiums or drugs not included in the plan. It’s vital to review your plan’s details and understand any changes in premiums or copayments that may arise from these new regulations.

How to Stay Informed

Don’t miss out on any critical dates or updates! Sign up for reminder emails to keep track of enrollment deadlines and changes to your plans.

As you prepare for open enrollment, consider reviewing your current coverage options and comparing them with new plans to ensure you have the best coverage for your needs. This is your opportunity to secure the healthcare you deserve, so take advantage of it!

For more information on Medicare changes, visit AARP’s resource on Medicare.

Bluestem Health is here to help you with your health coverage questions and to connect you with a provider that will give you the best possible care. Connect with us at (402) 476-1455.

Stay proactive about your health coverage, and remember—open enrollment is just around the corner!