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4th Quarter Newsletter: Medicare AEP

Friday, October 04, 2024

Submitting Applications During Medicare AEP

Medicare applications can be submitted electronically via the carrier enrollment systems, and your Agent Pipeline Medicare Center or paper applications may be submitted to TFA.

Submit Applications to our TFA team via email at Applications@tfabenefits.com

    • You can also use this mailbox for urgent requests and issues.

    • Each team member has access to this mailbox.

    • Please refrain from copying team members' individual email addresses.

Our office will accept Medicare applications until 6:00 PM on Friday, December 6. After 6 PM, it is vital that you submit any remaining AEP applications directly to the carriers before midnight.

2025 Changes to Medicare Part D

The Inflation Reduction Act will implement many changes to Medicare Part D beginning January 1, 2025. Continue reading to learn more.

Medicare Insulin and Vaccine Benefits

    • People with Medicare Part D coverage will pay no more than $35/month per covered insulin product.

    • Recommended vaccines will also be available at no cost for people with Medicare prescription drug coverage.

Part D Manufacturer Discount Program

    • CMS is now required to establish a Part D manufacturer discount program beginning January 1.

    • This program will replace the Coverage Gap Discount Program, which sunsets January 1.

Medicare Prescription Payment Plan

    • The new Medicare Prescription Payment Plan will require Part D plan sponsors to provide their enrollees with the option to pay out-of-pocket prescription drug costs in monthly payments instead of all at once to the pharmacy.

    • Program participants will pay $0 to the pharmacy for covered Part D drugs, and Part D plan sponsors will then bill program participants monthly for any cost-sharing they incur while in the program. Pharmacies will be paid in full by the Part D sponsor in accordance with Part D prompt payment requirements.

    • Click here for more information about the new prescription payment plan.

Part D Redesign Program Instructions for 2025

    • CMS is detailing improvements to the structure of the Part D drug benefit for Coverage Year (CY) 2025 that will result in lower drug costs for millions of people with Medicare through the release of the CY 2025 Part D Redesign Program Instructions.

    • In 2025, annual out-of-pocket costs will be capped at $2,000 for people with Medicare Part D.

Anthem Medicare Lunch & Learn

When: Thursday, October 10 | 12:30 - 2:30 PM

Where: 3 Commercial Place, Suite 1600

Join TFA Benefits and our Anthem Medicare reps for a review of the Anthem PDP and DSNP plans ahead of Medicare AEP season! This event is only offered in person and lunch will be provided. 

Please email DebbieBelcher@townebenefits.com to register!

2025 Wellcare Certification Update

Brokers were required to complete all 2025 annual certification requirements by September 30, 2024 to be able to market and sell 2025 Wellcare products. Due to the impact of Hurricane Helene's effects, the deadline for completing 2025 certification requirements will be extended until October 15, 2024.

Failure to complete the 2025 annual certification requirements will result in the inability to:

    • Market or sell any Wellcare products

    • Receive commission for any prior business, including renewals