Part 3/4:
The average Part D premium is expected to decrease from $53.95 to $46.50, according to CMS.
However, many individuals are seeing significant increases in their Part D premiums, especially if their medications are no longer covered on the plan's formulary.
Part D IRMAA amounts have also increased by about 6% across the income brackets.
Navigating the Changes
Healthcare cost increases can be worrying, but understanding the changes and exploring options like Medicare Supplement or Advantage plans can help mitigate the impact. It's important to review your plan options annually and find the coverage that best fits your needs and budget.