Medicare Part D 2025 Creditable Coverage SNAFU

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The Inflation Reduction Act is wreaking havoc on every aspect of Medicare 2025.
In Medicare Part D 2025 Creditable Coverage SNAFU I discuss how Employer coverage Prescription Drug plans may not be creditable coverage starting in 2025. I show you what you need to do to find out if they are creditibale coverage and how to make certain you are not subject to a lifetime penalty.

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#medigapseminars #medicarepartd #medicare

[JerryAult-mqzx]

So grateful for this info, and the option to speak to a human being free of charge about something that seems SO COMPLICATED! 5:19

[bigd]

Very useful information. No one else has talked about this change. I will be sure to contact my employer HR representative about this. Thank you!

[ssa]

Thanks for the heads up. I'll have to wait for my employer's clarification on Oct. 15. I'm 65, work for a very large government contractor, like my health insurance, contribute to my HSA and plan to work till 70. I'd like to keep it that way, but may need to rethink plans depending on how this Part D snafu affects me.
From my perspective, this whole thing is a bit ridiculous. I don't need/take any prescription meds now, but may need to do so as I get older. So I'll need some basic "creditable" prescription drug plan to tide me over till then. I'd rather not enroll in a Pard D plan because I would also need to be in Part A to do so, and that means no more HSA.

[sueshannon]

Matthew, thank you for all of your videos and the extra resources you post. Excellent references and it obviously took a lot of work to make those charts. I'm trying to understand the term "creditable coverage" in relationship to Part D plans. Seems like people use credible and creditable interchangeably.

[savmanhk]

Just got my new Antea silver script drug plan premium, up almost 400% $9.80 to $44.80!

[manputtyu]

Now I remember. In a previous video you said you could not have other prescription drug plans along with part D

[tomm]

If I need a Part D plan, you say the easiest way to get on medicare is to just enroll for part A coverage. But doesnt enrolling in Part A prevent me from contributing to my HSA?

[markfristedt]

In the last video you stated that no penalties will accrue for the year 2025. Meaning that if I have just my employer coverage through next year, I will not pay more forever because of a loss of "creditableness." If I continue to work and have employer coverage only into 2026, I will be subject to penalties. Is this correct?

[frhyuhy]

How is the $2000 limit affecting advantage plans?

[smoca]

you can have an employer part D coverage that is embedded in an advantage HMO plan and still add an individual part D plan when the employer plan is not credible coverage ? I thought that when you do this it will kick you of of the Advantage plan.

[blueskyes]

Such a great video, as usual. I'm trusting you all stayed safe during Milton? Here's my question. I started Part B & supplement + Part D through you guys in January 2024. My other half is still on Employer Insurance so only has Part A. But what a great idea to get a Stand Alone Part D plan.

My only question is - will getting a Stand Alone Part D plan right now affect the future Special Enrollment Period for Part B? Will it still be possible to get on Part B during a Special Enrollment Period either at retirement or earlier? In other words, would having a Stand Alone Part D plan along with Employer Insurance have any effect on the Special Enrollment Period?

[kai]

When do you start to review part D to see if your current plan is still the best for your situation? What is your website to review part D companies? Thank you.

[laurie]

I thought it was going to be voluntary? What if we already have Plan G? We are all forced to change? They couldn't make medicare any more confusing if they tried

[TomWilson]

I’ve had Wisconsin SeniorCare Rx as credible coverage for Part D for 5 years. Do you know if that will considered credible coverage for 2025?

[lethaoliphant]

I not unhappy I’m quite joyful! No blood or tears here!Yes plenty of GREAT Chanels out there.I LIKE MOST RESEARCH! It just so happen, to give you your 🌹 I started following you when I first started out in medicare and learned ALOT -learning more with you position on this. This is the first video i have seen wherein politics was allowed to fly, comments deleted and political views added from you that don’t agree with my comment. Your audience has to agree with you? No questions asked no rebuttals? You allowed a political comment to be made specifically towards a person. You know and commenter knows why that comment was made. That person is entitled to their comment and so was I. You didn’t like my comments so you removed them. You should have removed the entire thread. You’re welcome and thanks!

[MarchHare]

Kamala was the tie breaking vote in the Senate that made this mess possible. Keep that in mind on election day. Thanks Kamala! (/sarc)