Janell Sluga Medicare & Individual Health Insurance Account Executive View Bio

Lawley Medicare Solutions Learning Center:

Ask Janell!

 

QUESTION:  I started collecting Social Security and signed up for Medicare this year. What happens in 2025?

ANSWER:  It’s that time of year when a lot of new information is announced, and I’m glad we have answers to your questions. It’s important to understand what your Medicare premiums and other cost shares will be as you plan for 2025.

Social Security’s Cost of Living Adjustment (COLA)
Social Security has announced a 2.5% increase for 2025. This means your monthly Social Security benefit (the gross amount) will rise by 2.5%. For example, if your current benefit is $1,000, you’ll see an increase of $25 per month. Your exact increase will depend on your individual benefit amount.

This COLA increase will likely cover the increase in your Medicare Part B premium, which will go up to $185 per month starting in January 2025 — an increase of just over $10 compared to 2024.

Medicare Part Premiums for 2025

  • Medicare Part A: For most people, the Medicare Part A premium will remain $0 in 2025 if you have at least 40 quarters (10 years) of work history. If you have fewer than 40 quarters of work history, you’ll pay a premium:
    • For 30-39 quarters of work history, the Part A premium will be $285 per month.
    • For fewer than 30 quarters, the premium will be $518 per month.
  • Medicare Part B: The monthly premium for Medicare Part B will increase to $185 in 2025, up from $174.70 in 2024. If your income is above $106,000 for an individual or $212,000 for a couple, you will pay an additional amount due to the Income-Related Monthly Adjustment Amount (IRMAA). The Social Security Administration (SSA) will send you a letter with your specific Part B and Part D premiums based on your income.
  • Medicare Part A Deductibles and Co-Pays:
    • In 2025, the Medicare Part A deductible for hospital stays will be $1,676 for the first 60 days of care.
    • If you need skilled nursing care after a hospital stay, the first 20 days will continue to be covered in full. For days 21-100, you will have a co-pay of $209.50 per day.
  • Medicare Part B Deductible: The Part B deductible for 2025 will be $257, which is a $17 increase from 2024. Once the deductible is met, Medicare Part B will cover 80% of most covered services, and you’ll pay the remaining 20%. Some preventive services are fully covered by Medicare.

Important Information

  • The Medicare & You handbook, which you recently received, provides detailed information about your coverage, including premium amounts, deductibles, and co-pays. You may also have received an email version of this handbook.
  • In late November or early December, you should receive a letter from Social Security confirming your 2025 Social Security benefit amount. Be sure to review this letter carefully.

Since this is your first year collecting Social Security benefits, everything may seem new to you, but as time goes on, you’ll become more familiar with the annual schedules and changes related to your benefits.

Medicare Open Enrollment
It is also my hope that you have health insurance (Medicare) and that you are watching those changes to your coverage. The opportunity to change that Medicare Insurance Coverage is October 15 to December 7 each year. So don’t forget to think about those decisions for 2025.

If you have questions or need assistance navigating your options, don’t hesitate to reach out to the Lawley Medicare Solutions Team. You can contact Medicare Service Team Lead Gabrielle Connor at 716.849.8223, or submit an inquiry through our contact form below. We’re here to help you find the right coverage for your needs!

 

At Lawley Medicare Solutions, our Medicare and Individual Health Consultants are dedicated to helping you make the most informed decisions about your healthcare needs. We offer personalized service and expert advice tailored to your unique situation. Contact us today by phone or email to schedule a consultation and ensure you’re getting the best coverage for your needs.

 

Read all Inside Medicare articles HERE.

 

LAWLEY HAS A TEAM DEDICATED TO MEDICARE INSURANCE!

Our licensed Medicare & Individual Health Insurance team can help clients understand the details of Medicare insurance plans, assist with choosing the right benefits and coverage, and provide guidance when life events that affect health coverage occur.

For questions, concerns, or to reach Lawley Medicare Solutions, fill out the contact form below or call 716.849.8223.