Part D - FAQ

The Annual Enrollment Period runs from October 15 - December 7. Plan changes need to be requested within that window of time and your new plan would take effect on January 1st of the following year. If you request a Part D plan change that gets approved, you existing policy will automatically terminate on 12/31/2024 at midnight.

One of the main changes going into effect for 2025 is the out-of-pocket maximum cap of $2,000/year on covered prescriptions for Medicare recipients. This however may result in higher monthly premiums, smaller formularies (number of covered Rxs by the plans), carriers exiting the Part D market and your agents unable to offer some plans.

Yes, Martin & Associates can still be your servicing agent for your Part D plan if you either keep your existing policy and let it automatically renew for 2025 or if you go through our Medicare Insurance Direct Part D review tool and switch to a plan available there.

If you decide to go through the www.medicare.gov website or contact the insurance company directly to enroll into a new Part D then Martin & Associates will not be your servicing agent on your policy.

Yes, we can still service and review your Medicare Supplement and Medicare Advantage policies. To schedule a review of those plans, click here to pull up our calendar!

If you would like to view all Part D plans that are available on the market, visit the www.medicare.gov website.

If you take no action at the Annual Enrollment Period, you will automatically renew your existing Part D plan for 2025.

No, if you submitted a request for a new Part D plan for 2025 and you are approved then you will automatically be disenrolled from your existing Part D plan on 12/31/2024 at midnight. Your new Part D policy would take effect on 1/1/2025.