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Average monthly premiums for Medicare Part D and Medicare Advantage plans will decrease in 2025, the Centers for Medicare & Medicaid Services (CMS) announced Friday. The average monthly

premium for a stand-alone Part D prescription plan is projected to be $40 next year, a decline of $1.63, almost $20 annually. Average Medicare Advantage monthly premiums are expected to

decrease by $1.23 a month to $17 in 2025. Medicare Advantage members must be enrolled in Parts A and B of Medicare. Part A is free if they or their spouse have worked and paid Medicare taxes

for at least 40 quarters, the equivalent of 10 years. Part B premiums are recalculated every year. About 60 percent of Medicare Advantage enrollees who stay in their current plan will have

no MA premium next year, CMS officials say. The agency projects that more than 4 of 5 enrollees will have the same or lower premiums in 2025 if they stay with the same plan. COMING UP:

MEDICARE OPEN ENROLLMENT SEASON Even though average premiums aren’t rising, they are increasing for some plans. Part D and Medicare Advantage plans can also make other changes to their

coverage and costs, so comparing plans during open enrollment Oct. 15 to Dec. 7 remains important. One of the most significant changes to the prescription plans will take effect next year

when out-of-pocket spending for covered drugs will be capped at $2,000, far less than someone with high medication costs pays this year. But plans also can remove medications from their drug

lists, add prior authorization restrictions for more medications and even increase deductibles and copayments before you reach the cap. Average premiums could be lower next year in part

because of a monetary incentive that CMS is giving insurers to keep enrollees’ monthly bills stable. Almost all companies agreed to participate; the program is scheduled to last up to three

years. People with Medicare will have access to an average of 15 stand-alone Part D plans in their area and about 34 Medicare Advantage plans with prescription drug coverage. A new plan

would take effect Jan. 1. LOOK FOR CHANGES IN YOUR PLAN’S OTHER BENEFITS, COSTS If you have a Medicare Advantage plan, pay attention to coverage for your medical needs and details of other

benefits, such as copays and limits on dental care. Even if you’ve been happy with your Part D or Medicare Advantage plan, review its annual notice of change to find out what will be

different in 2025. You should receive this document from your plan by the end of September. You can now use the Medicare Plan Finder to compare your options for all the Part D and Medicare

Advantage plans available in your area for 2025. _This story, originally published September 27, 2024, was updated to reflect the availability of new plans on the Medicare Plan Finder._