New York’s 2025 Medicare Part D plan overview |
Introduction: |
Based on the 2025 Medicare Part D prescription drug plan information released by
the Centers for Medicare and Medicaid Services (CMS), New York seniors and Medicare
beneficiaries may find that 2025 will bring a number of changes to their prescription drug
coverage and beneficiaries should be prepared to see how their current 2024 Medicare Part D
plan is changing in 2025. To assist, we now have our 2025 PDP-Compare Annual Notice of Change (ANOC) tool
online to show basic changes in plan coverage at PDP-Compare.com/2025/NY.
Please note that the information we provide below is based only on stand-alone Medicare Part D prescription drug plans (PDPs). We do not compare stand-alone drug plans directly with Medicare Advantage plans. Unlike PDPs, Medicare Advantage plans provide coverage for Medicare Part A (in-patient hospital coverage), Medicare B (out-patient physician visits), and may include comprehensive prescription drug coverage (called MAPD plans). Medicare Advantage plans may also include additional benefits such as dental, vision, and health club coverage. For more information, seniors can review all Medicare Advantage plans available in their area using our 2025 MA-Finder. |
What’s new for New York’s |
New York 2025 Medicare Part D premium increases and decreases: Of the 12 Medicare Part D plans available in New York for 2025, 1 plan(s) will lower their premiums and 11 will increase their premiums. Currently, 90.2% of New York residents enrolled in a stand-alone Medicare Part D plan are enrolled in one of the 11 plans with a premium increase. The average premium increase for members of these plans will be $20.72 per month. |
The 2025 average monthly Medicare Part D premium in New York will increase: Overall, the average monthly 2025 prescription drug plan premiums in New York will increase 22.88% from a 2024 average monthly premium of $74.25 to a 2025 average Part D plan premium of $97.13. The average monthly premium discussed above consider all stand-alone Medicare Part D plans equally. Perhaps a more telling average is the weighted average — that is, looking at each plan’s monthly premium weighted by the number of people enrolled in that particular plan. Based on the weighted average, New York residents can expect to see a 16% increase in their monthly premiums. This means that if everyone stays in their current 2024 prescription drug plan through 2025, then across the state we can expect beneficiaries to pay 16% more for their monthly premium. As reference, the national average monthly Medicare Part D premium will . New York will have fewer Medicare Part D (PDP) plan choices: Locally, New York residents will find that the total number of stand-alone 2025 Medicare prescription drug plans has decreased from 15 in 2024 to 12 stand-alone Part D plans. A wide assortment of national and regional Medicare Part D plans are offered in each state or CMS region, with the average number of prescription drug plans offered per state . You can review all 2025 Medicare Part D Plans available in New York at PDP-Finder.com/2025/NY. As a note, if you find that your current 2024 Part D plan is not being offered in 2025, you may wish to review your Part D plan’s Annual Notice of Change (or ANOC) letter to see if you will be automatically moved to another 2025 prescription drug plan or whether you will need to actively choose a new 2025 Medicare Part D plan. If you are automatically switched to a new plan for any reason, please review the new plan closely. Automatic plan switches DO NOT take into account your specific medication coverage and pharmacy needs. Check to be sure that your new plan provides the coverage you need. The range of monthly drug plan premiums will decrease: The premiums within New York will range from $38.70 (Wellcare Value Script (PDP) in NY) to $170.40 (Humana Premier Rx Plan (PDP) in NY) — as compared to the 2024 New York monthly premium range of $3.70 to $135.40. In comparison, across the country the 2025 Medicare Part D plan premiums range from a low of to a high of . Fewer Medicare Part D plans with a monthly premium under $25: New York residents will have fewer lower premium Medicare Part D (PDP) plans from which to choose. There will be 0 plans having a premium under $25, a decrease from the 2 Part D plans under $25 offered in 2024. Fewer Medicare prescription drug plans are offered with enhanced options: New York residents will find that fewer Part D plans will offer enhanced prescription drug coverage options with 7 enhanced Part D plans in 2025 as compared to 10 in 2024. Enhanced Medicare Part D coverage includes prescription drug plans that have a lower or no initial deductible and a variation of cost-sharing (for instance, copayments instead of co-insurance). For example, in 2025, fewer New York Part D plans will offer prescription drug coverage with a $0 initial deductible (2 plans in 2025 as compared to 3 plans in 2024). Low-Income Subsidy recipients in New York will have more Medicare Part D plans that qualify for the $0 monthly premium: New York Medicare beneficiaries who qualify for full "Extra Help" will find that more Part D plans qualify for the $0 premium Low-Income Subsidy as compared to last year. In 2024, 2 Medicare Part D plans qualified for the $0 premium Low-Income Subsidy as compared to 3 Part D plans in 2025. Please note, if you received "Extra Help" in 2024 and your plan does not qualify for the $0 premium in 2025, you may be automatically moved to a new Part D plan that does qualify for the $0 premium. If this occurs, please check to be sure that your prescriptions are covered on your new plan. If your prescriptions are not covered, you can switch to a plan that will cover your medications. To Summarize: New York seniors and Medicare beneficiaries will see fewer prescription drug plan choices in 2025 and can expect to see higher monthly premiums. In addition, behind the numbers, some of 2024’s more popular Medicare Part D plans will change their 2025 plan structure. Some plans are adding initial deductibles or changing cost-sharing limits (for instance, how much you pay for a covered drug). Accordingly, beneficiaries are reminded to consider their 2025 prescription drug plan options carefully. If you are a Medicare beneficiary and make no decision about changing your existing prescription drug coverage, you will be automatically reenrolled in your existing prescription drug plan — along with any changes that have been made in your plan’s coverage or cost for 2025. If your prescription drug plan will be discontinued, and you are not automatically moved into a new plan, you will need to enroll in another Part D plan or you may not have prescription drug coverage in 2025. What is the Bottom Line? Review your 2025 Medicare prescription drug plan options. Important Dates: Medicare Part D Plan Marketing begins: October 1, 2024 Annual Open Enrollment Period: October 15, 2024 through December 7, 2024 New Coverage begins: January 1, 2025 For more information, Q1Medicare.com has developed national and state one-page interactive summaries of prescription drug plan information. You can review the 2025 New York Medicare Part D Facts page at PDP-Facts.com/2025/NY Questions? Please let us know by clicking here for our Help Desk. Click here to review Medicare Part D plan statistics for the 2025 plan year. |