Medicare Monday with
Matthew Jorgenson!

New $2,000 Cap on Prescription Drug Costs

Starting in 2025, Medicare Part D introduces a major change: a $2,000 annual out-of-pocket maximum for prescription medications.

What This Means for You:
Once you’ve spent $2,000 on covered prescription drugs, Medicare will take care of the rest for the year. This change can significantly reduce financial strain for those with high medication costs.

Tip: Review your current Part D plan to ensure it’s still the best fit for your needs in 2025, and take advantage of this new cost-saving benefit.

For questions or personalized guidance, contact me:
Matthew Jorgenson
 📞 (801) 809-2229
 📧 [email protected]

View all Medicare Mondays

Medicare Monday with
Matthew Jorgenson!

Medicare Monday Tip: Key Changes Coming to Medicare in 2025

As we welcome the New Year, it's important to be aware of significant updates to Medicare effective January 1, 2025. Here's what you need to know:

1. Introduction of a $2,000 Out-of-Pocket Cap for Part D

• What’s Changing? Medicare Part D will implement a $2,000 maximum out-of-pocket limit for prescription drug expenses. This change aims to reduce the financial burden on beneficiaries.

2. Adjustments in Premiums and Deductibles

• Medicare Part B:

  • Standard Monthly Premium: Increasing to $185.00, up from $174.70 in 2024.

  • Annual Deductible: Rising to $257, an increase from $240 in 2024.

• Medicare Part A:

  • Inpatient Hospital Deductible: Increasing to $1,676.

3. Changes in Medicare Advantage (Part C) Plans

• Premiums: The average monthly premium for Medicare Advantage plans is expected to decrease by 6.75%.

• Benefits: While some benefits like dental coverage remain stable, it's crucial to review your plan for any specific changes.

4. Enhanced Access to Behavioral Health Services

• What’s New? Medicare is expanding access to behavioral health care by updating network adequacy standards, ensuring beneficiaries have better access to services like mental health counseling.

What Should You Do?

• Review Your Plan: Even though the Annual Enrollment Period has ended, it's essential to understand how these changes may affect your current coverage.

• Stay Informed About Special Enrollment Periods (SEPs): Certain life events, such as moving or losing other insurance coverage, may qualify you for a SEP, allowing you to make changes to your Medicare plan outside the standard enrollment periods.

Need Assistance?

If you have questions or need guidance regarding your Medicare coverage, feel free to contact me:

Matthew Jorgenson
Phone: (801) 809-2229
Email: [email protected]

Medicare Monday with
Matthew Jorgenson!

Opportunities to Review Your Medicare Plan

Happy Holidays! 🎄 If you still have concerns about your Medicare health or drug plan, there may still be opportunities to make changes. Feel free to reach out if you’d like more information about Medicare plans.

I’m here to assist anyone new to Medicare, whether it’s your first time enrolling or your first time navigating Medicare locally.

Additionally, if you have a standard Medicare Supplement plan, I can help you compare your current plan's costs with some of the most competitive supplements available today.

Wishing you a wonderful week!

Thanks,
Matt Jorgenson
 📞 (801) 809-2229
 📧 [email protected]

Medicare Monday with
Matthew Jorgenson!

Stay Ahead of 2025 Changes to Your Coverage!" 

As of today, December 8, 2024, Medicare's Annual Enrollment Period has concluded. However, it's important to stay informed about upcoming changes to Medicare in 2025:

Key Changes Effective January 1, 2025:

• Introduction of a $2,000 Out-of-Pocket Cap for Part D: Medicare Part D will implement a $2,000 maximum out-of-pocket limit for prescription drug expenses. This change aims to reduce the financial burden on beneficiaries.

• Adjustments in Premiums and Benefits: With the new out-of-pocket cap, there may be significant changes in premiums and benefits across Medicare Advantage (MAPD) and Part D (PDP) plans. It's crucial to review your plan to ensure it continues to meet your needs.

What to Do Next:

• Review Your Current Plan: Even though the Annual Enrollment Period has ended, it's essential to understand how these changes may affect your current coverage.

• Stay Informed About Special Enrollment Periods (SEPs): Certain life events, such as moving or losing other insurance coverage, may qualify you for a SEP, allowing you to make changes to your Medicare plan outside the standard enrollment periods.

Need Assistance?

If you have questions or need guidance regarding your Medicare coverage, feel free to contact me:

Matthew Jorgenson
Phone: (801) 809-2229
Email: [email protected]

Staying informed and proactive is key to ensuring your Medicare coverage aligns with your healthcare needs.

Medicare Monday with
Matthew Jorgenson!

Important Changes to Medicare Part D 

Hello, Bountiful Buzz!  

Big changes are coming to Medicare Part D starting January 1st, 2024:

✨ No More Coverage Gap: The infamous "donut hole" will be eliminated.

✨ New $2,000 Maximum Out-of-Pocket (MOOP): The federal government has standardized a $2,000 cap on out-of-pocket prescription drug costs, making it easier to plan for your expenses.

With these updates, we’re also seeing:

📉 Significant changes in premiums.
📉 Adjustments to benefits across Medicare Advantage (MAPD) and Part D (PDP) plans.

What You Should Do:

✔️ Review your current plan to ensure it still fits your needs.
✔️ Take action before the enrollment period ends on December 7th – it’s not too late to make a change!

Need Help? 

📞 Call me at (801) 809-2229 
📧 Email me at [email protected] 

Let’s make sure your Medicare plan works for you!

Thanks,
Matthew Jorgenson 

Medicare Monday with
Matthew Jorgenson!

Let’s Talk About the ABC’s of Medicare

There are FOUR basic parts to Medicare:

- Part A - Hospital Insurance: Covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care services.

- Part B - Medical Insurance: Covers outpatient care, doctor services, preventive services, and other medically necessary services.

Part A and Part B together are called Original Medicare and are provided by the federal government. Original Medicare does not cover prescription drugs and does not have a limit on out-of-pocket medical expenses.

- Part D - Prescription Drug Coverage: Offered by private insurers, Part D adds stand-alone prescription drug coverage to Original Medicare.

- Part C - Medicare Advantage Plans: These plans bundle Part A, Part B, and often Part D into one plan. Medicare Advantage plans are offered by private insurers, limit out-of-pocket medical expenses, and typically include additional benefits like dental, vision, and wellness programs.

Supplement Insurance Plans (Medigap): Offered by private insurers, these plans provide comprehensive coverage to fill gaps in Original Medicare by covering costs like copayments, coinsurance, and deductibles. They do not include Part D prescription drug coverage.

If you have questions, contact me:

Matt Jorgenson (801) 809-2229
Email: [email protected]

Medicare Monday with
Matthew Jorgenson!

Getting Ready for Medicare? —
👉 Here’s Your Essential Checklist!

If you’re approaching 65, it’s important to know that Medicare’s Annual Enrollment Period only applies to those already enrolled in Medicare. For those nearing Medicare age, here’s a step-by-step checklist to ensure you’re fully prepared for this milestone:

12 Months Before Your 65th Birthday:
- Determine if you qualify for Medicare coverage.
- Learn about the different parts of Medicare (Parts A, B, C, and D).
- Understand how your current coverage will work with Medicare.

6-9 Months Before Your 65th Birthday:
- Set a retirement date.
- Enroll before leaving your job to avoid potential penalties.
- Estimate your out-of-pocket costs for Medicare.
- Check if you qualify for premium-free Part A.
- Explore available financial assistance and apply if needed.

4-6 Months Before Your 65th Birthday:
- Confirm that your doctor(s) accept Medicare or Medicare Advantage.
- Meet with a licensed Medicare agent to get a head start.
- Discuss whether Original Medicare or Medicare Advantage suits your needs.
- Research Medicare Advantage plan options.
- Understand the differences between a Part D plan and Medicare Supplement insurance.

1-3 Months Before Your 65th Birthday:
- Enroll during your Initial Enrollment Period.
- Note when your coverage begins.
- Make important coverage decisions with help from your licensed agent.
- Watch for your Medicare card in the mail.
- Talk with your doctor about any Medicare-related care changes.
- Learn how to maximize your Medicare benefits with guidance from your licensed agent.

If you have any questions, I’m here to help!

Matt Jorgenson (801) 809-2229
Email: [email protected]

Medicare Monday with
Matthew Jorgenson!

Medicare Advantage vs. Original Medicare – Which is Right for You?

One of the most common questions I hear is, "Should I stick with Original Medicare or switch to Medicare Advantage?" Here’s a quick guide to help you decide:

- Original Medicare: Includes Part A (hospital) and Part B (medical) coverage, allowing you to visit any doctor or hospital that accepts Medicare. While it offers flexibility, it doesn’t cover extras like dental or vision.

- Medicare Advantage (Part C): Combines Part A, Part B, and often Part D (prescription drug coverage) into one plan. While typically limited to a network of providers, it often includes additional benefits such as vision, dental, and wellness programs.

The choice comes down to your healthcare needs and whether you prefer flexibility or added benefits. If you need help deciding, feel free to reach out. I'm here to assist!

Matthew Jorgenson
[email protected]
(801)809-2229

Medicare Monday with
Matthew Jorgenson!

💡 Preparing for Medicare

I understand—choosing a Medicare plan can feel overwhelming. I’m here to help. Let’s work through your needs together.

I’ll be eligible for Medicare this year and…

I’m retired.
If you receive Social Security, you’ll automatically be enrolled in Medicare Parts A and B. Not receiving Social Security yet? Then you’ll need to enroll yourself.

I’m still working.
Even if you’re still working, it’s smart to enroll in Part A because it’s generally premium-free if you’ve paid Medicare taxes for 10 years.

You can still defer if you want, as long as your employer has 20+ employees. Otherwise, you’ll need to enroll in Part B to avoid a late enrollment penalty.

I’m a veteran.
Thank you for your service! If you’ve got VA coverage when you turn 65, you don’t have to enroll in Part A or B, but you may want to explore all coverage options.

I’m on my spouse’s plan.
Your spouse’s coverage may end when you become Medicare eligible. If it does continue, you can defer enrollment.

Of course, these are just a few scenarios that may apply to your situation. If you’ve got additional questions, I’m here to help!

Matthew Jorgenson
[email protected]
(801)809-2229

Medicare Monday with
Matthew Jorgenson!

💡 Medicare Monday Tip:
Important Changes to Medicare Part D

Hello, Bountiful Buzz readers!

Many of you may already be aware of upcoming changes to Medicare Part D, but for those who aren’t, here’s what you need to know. Starting January 1st, the coverage gap will be eliminated, and the federal government has set a $2,000 maximum out-of-pocket (MOOP) limit.

With this change, we’re seeing significant premium increases and reductions in benefits across all Medicare Advantage (MAPD) and Part D (PDP) plans. It’s essential to review your plan to ensure it still fits your needs. Remember, the current enrollment period ends December 7th.

If you need assistance, I’m available to help. You can find me at my Medicare table at Smith’s (614 W 2600 S in Woods Cross) on Mondays and Tuesdays from 9 AM to 1 PM, and Fridays from 9 AM to 4 PM. Feel free to call me if you prefer.

Thanks again,

Matthew Jorgenson
(801) 809-2229

Medicare Monday: Meet Our New Expert,
Matthew Jorgenson!

Hello, Bountiful Buzz readers!

I’m Matthew Jorgenson, and I’ve proudly called Bountiful home since 1980, when my family moved here while I was just two years old. With 19 years of experience as a Medicare insurance agent, I’m excited to join the Bountiful Buzz as your go-to source for Medicare expert tips.

Annual Enrollment is upon us, running from October 15th through December 7th. This is a crucial time for those already enrolled in Medicare Advantage or prescription drug plans to review and make changes, as these plans adjust every year. It’s essential to stay informed.

I also want to clear up a common misunderstanding for those approaching Medicare eligibility. Annual Enrollment does not apply to individuals nearing 65. Instead, your Medicare Initial Enrollment period spans from three months before your 65th birthday, your birth month, and three months after. For example, if you were born in January, your initial enrollment window runs from October 1 through April 30.

If you have any questions about your Medicare situation or the changes happening this year, feel free to reach out to me directly. I’m here to help!

Matthew Jorgenson 
(801) 809-2229