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Changes to Part D Under Inflation Reduction Act

Craig Kirscht • Nov 07, 2023

The Medicare Annual Enrollment Period – AEP for short – is a set time each year for changing your Medicare coverage choices if you choose to. AEP runs from October 15 to December 7. New coverage choices go into effect on January 1.


Changes under the Inflation Reduction Act have savings coming. However, that could also lead to some increases in other areas when it comes to your prescription drug plans.

  • Eliminating coinsurance and copayments during Medicare Part D’s catastrophic phase. As of January 1, 2024, people with Medicare Part D drug coverage who fall into the catastrophic phase of the drug benefit won’t have to pay any coinsurance or co-payments during that phase for covered Medicare prescription drugs. This saving will be evident to those who typically spend hundreds or thousands of dollars each month on prescription medications. The 5% coinsurance cost that was eliminated from the Medicare Part D enrollees will now go be taken on by the insurance companies as the cost of the drugs is still the same from the drug manufacturer company; this act only eliminates the coinsurance portion on high-cost medication
  • Requiring Part D premium stabilization. Beginning January 1, 2025, the average premium increase across most Part D plans to be limited to 6% over the previous year.


With the elimination of co-payments during the catastrophic phase and the lock-on premium increase after January 1, 2025, stand-alone Par D enrollees should plan to see a much higher increase in premiums for this upcoming year for prescription drug plans. Insurance carriers will be looking to recuperate their losses with increases in other areas.

Keep an eye out for additional newsletter articles and emails or links that we may send to you. We are finding that it is easier to provide you information or gather information from you by sending you videos to watch or fillable documents you can complete and submit to provide us with vital information. I know that some of you don’t have access to a computer, but know that you can view the videos or fill out the forms on your phone if you have an iPhone or other smartphone. And if you do not have a smartphone, we are just a phone call or text away. Change is usually daunting and unwelcome, but it is inevitable. Please rely on myself and our staff to make sure that you are well covered for whatever “changes” come this fall. You can reach me at (720)375-5479. If I am unavailable, please leave a very specific and detailed message or email me your concerns, and I will get back to you as soon as I possibly can.

By Craig Kirscht 07 May, 2024
The Kirscht Insurance Agency is dedicated to raising awareness about the challenges seniors face, including the often overlooked risks of social isolation. Our goal is to inform and empower our community to better support the elderly, ensuring their health and well-being. The Difference Between Social Isolation and Loneliness It's crucial to distinguish between social isolation and loneliness when discussing senior health. Social isolation refers to the objective lack of social connections and regular interactions, whereas loneliness is the subjective, distressing feeling of being alone. Importantly, one can be isolated without feeling lonely, and conversely, feel lonely even in a crowd if the emotional connections are lacking. The Health Risks of Isolation and Loneliness Physical Health Concerns Social isolation and prolonged loneliness can significantly impact physical health. Research has shown that isolated seniors have a heightened risk of developing severe conditions such as heart disease and stroke. For instance, isolated individuals face a 29% increased risk of heart disease and a 32% higher likelihood of stroke. The biological response to prolonged loneliness can trigger inflammation, contributing to these and other chronic conditions. Psychological Effects: Depression The psychological impact of loneliness can be equally debilitating. Seniors experiencing social isolation are at a higher risk of depression, which in turn can lead to further withdrawal from social interactions. This creates a vicious cycle, where depression intensifies feelings of loneliness, further isolating the individual. Cognitive Decline Social interactions play a crucial role in maintaining cognitive health. Engaging in meaningful conversations stimulates various cognitive functions, including memory and focus. Without regular social contact, seniors are at an increased risk of cognitive decline, including conditions like Alzheimer's and other forms of dementia. Increased Mortality Risk Isolation not only affects quality of life but also longevity. Studies have linked social isolation to an increased mortality risk, exacerbated by the physical and cognitive declines associated with it. Moreover, isolated seniors may face difficulties accessing medical care, which can delay treatment for critical conditions. Strategies to Combat Social Isolation Combatting social isolation involves proactive efforts to enhance social interactions. Encouraging regular contact with family and friends, whether through scheduled visits or technology like video chats, can make a significant difference. Additionally, community centers and senior clubs offer valuable opportunities for seniors to connect with peers and engage in social activities. How The Kirscht Insurance Agency Can Help  At The Kirscht Insurance Agency, we understand the profound impact social isolation can have on seniors. We are here to support and provide resources for families navigating these challenges. If you or a loved one are facing issues related to social isolation or loneliness, we encourage you to contact us. Our team is committed to offering support and solutions to improve the health and well-being of seniors in our community.
By Craig Kirscht 15 Apr, 2024
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