Medicare Open Enrollment 2025: What Most Retirees Are Missing
- Marc Lowe
- Nov 4
- 3 min read
Updated: Nov 11
Every fall, I like to remind clients of one simple truth:👉 Your Medicare plan is not a “set it and forget it” decision.
From October 15 to December 7, millions of retirees have a window to review and adjust their Medicare coverage — but only 29% actually do. That means most people are paying more than they should or missing out on better benefits.
And this year? It’s one of the most important open enrollment seasons in recent memory.
Here’s Why 2025 Is Different
The Inflation Reduction Act is reshaping Medicare drug plans in a big way.✅ The old “donut hole” is disappearing.✅ Out-of-pocket drug costs are now capped at $2,000 per year.🚫 But… premiums and copays are quietly rising in other areas.
To make things more complicated, about 25% of Part D plans are being discontinued — including well-known names like Mutual of Omaha and AARP Walgreens. If your plan is one of them, you’ll need to actively choose a new one or risk being automatically reassigned.
A Quick Reality Check
If you’re thinking:
“I’m happy with my plan — why bother reviewing it?”
Here’s the truth: your prescriptions, premiums, and coverage networks all change every year.
Even if the plan name stays the same, the benefits under the hood often don’t.
Failing to review your coverage is like handing the insurance company a blank check — and hoping they’re generous.
Connecticut Advantage: Guaranteed Issue Rights
If you’re in Connecticut, you actually have more flexibility than most states. You can switch Medigap policies any time of year without medical underwriting — something that isn’t true in most of the country.
That means you’re not stuck. You can make changes to your coverage if it no longer fits your needs.
Before You Renew, Ask Yourself:
Has it been more than two years since I reviewed my plan?
Have my prescriptions or health needs changed?
Do I take brand-name or multiple medications?
Do my spouse and I really need the same Part D plan?
If you answered “yes” to any of these, it’s time for a review.
About the Author
Marc Lowe, CFP® is a fee-only fiduciary advisor based in New London, CT, helping retirees, business owners, and Electric Boat employees make smarter financial decisions.
The information presented in this Presentation is the opinion of the author and does not reflect the views of any other person or entity unless specified. The information provided is believed to be reliable and obtained from reliable sources, but no liability is accepted for inaccuracies. The information provided is for informational purposes and should not be construed as advice. Advisory services offered through In The Money Retirement, an investment adviser registered with the state of Connecticut. The information linked to on third-party sites is being provided strictly as a courtesy and convenience. When you link to any of the web sites provided here, you are leaving this website. We make no representation as to the completeness or accuracy of information provided at these websites. When you access these websites, you are leaving our website and assume any and all responsibility and risk for use of the web sites you are visiting.The tax and estate planning information offered by the advisor is general in nature. It is provided for informational purposes only and should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.
Comments