The Medicare Annual Enrollment Period is from October 15, 2024, through December 7, 2024. We wanted to make you aware that Major Changes are Coming to the IAM Group Medicare Part D Rx Program in 2025!
As part of the Inflation Reduction Act, beginning January 1, 2025, the federal government is implementing significant changes that will impact all standalone Medicare prescription drug plans and Medicare Advantage plans with prescription drug coverage.
Here are some of the Inflation Reduction Act’s key Part D Rx changes for 2025:
- Removal of the Coverage Gap (Also Known as the Donut Hole)
- Lower Member’s Out-of-Pocket Annual Rx Maximum to $2,000
- Introduction of a New Payment Plan Option
Unfortunately, due to these changes, we are being told that most Part C (Medicare Advantage) and stand-alone Prescription Drug Plans (PDP) may experience a monthly premium increase per month, as well as causing potential changes to your current health plan benefits, effective January 1, 2025. In some cases, carriers are leaving certain areas or significantly reducing their service areas in 2025.
We are here to help! As part of our commitment to all IAM Retirees, we suggest you take advantage of the free service offered through EBS and TLC Insurance Group. They have the availability to compare all individual Medicare plans nationally and have exclusive access to the national IAM Group Medicare Plan, as well. They are appointed in All States and with Most Major Carriers. Regardless of where you live, they can assist you with following:
- Understand how the Part D changes may affect your plan benefits
- Review all your individual and group plan options in your area
- Provide a personalized individual consultation with no cost and no obligation
Due to these structural Medicare Rx changes, every Medicare plan is changing!!! Review your plan today to make sure it fits your needs for 2025!
Call the EBS / TLC Retiree Service Center at 1-833-469-0515 to schedule your personalized review today! Please mention that you are with “IAM” when calling. There is no charge for their services and there is no obligation. Give them a call today.
Also, for your convenience, to initiate a review process, EBS has a secure platform where you can request your annual plan review online. Please follow the URL link or scan the QR code and enter your information. A licensed agent from EBS will contact you soon to discuss your personalized plan options.
Your union wants you to be aware that these benefits exist and that they may be helpful to you. Your union, however, is not party to any agreement entered into by you and Employee Benefit Systems, TLC Insurance Group or Humana and is not responsible in any way for the operation or administration of any plans.
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