Good News: Starting in 2025, Medicare Advantage (MAPD) policyholders will receive a new mid-year notification regarding their supplemental benefits. This alert aims to remind policyholders about unused benefits from their plan.
A recent study found that three out of ten MAPD members did not use supplemental benefits in the past year. Beginning in 2025, MAPD plans will be required to send a personalized “Mid-Year Enrollee Notification of Unused Supplemental Benefits” each July. This notice will detail all unused supplemental benefits, their
coverage scope, and associated out-of-pocket costs. Insurance carriers will also provide instructions on accessing these benefits and include a customer service number for further information.
While I appreciate this change, some benefits must be utilized quarterly. This change can be improved by sending quarterly notices, with the first notification in March.
Roughly 54% of Medicare Advantage (MAPD) enrollees review their current plan’s coverage annually to check for potential changes in premiums or other out-of-pocket costs. Despite year-to-year changes, only 32% of MAPD enrollees compare and shop MAPD plans annually. Given the numerous upcoming changes in 2025 and the approaching Annual Enrollment Period (AEP), now is a great time to review your Medicare coverage to ensure it meets your needs.
Schedule your free review with one of our agents to find out what these changes mean for you.
Brian Faraci, Director of Operations, The Financial Guys Insurance Agency
