Top 5 Ways to Save Money on Medicare in 2025
Top 5 Ways to Save Money on Medicare in 2025
Medicare is a lifeline for millions of Americans, but even with government coverage, healthcare costs can add up quickly. Premiums, deductibles, copays, and prescription costs all change from year to year — and 2025 brings a few new opportunities to save money if you know where to look.
Here are the top five ways to keep more money in your pocket while still getting the care you need.
1. Review Your Plan During the Annual Enrollment Period
Each year, from October 15 to December 7, Medicare beneficiaries can switch or update their plans. This is your best chance to make sure your coverage still fits your needs — and your budget.
Compare Part D drug plans: Formularies (drug lists) and copays change every year. A new plan could save you hundreds annually.
Shop Medicare Advantage plans: Some offer lower premiums or extra benefits like dental, vision, and hearing coverage at no extra cost.
Don’t “set it and forget it.” Even small plan changes can mean big out-of-pocket differences next year.
Pro Tip: Use Medicare’s official Plan Finder tool or talk with a licensed advisor to compare plans side-by-side.
2. Take Advantage of Preventive Services — Most Are Free
Medicare covers many preventive screenings and wellness visits at no cost to you. That includes:
Annual wellness visits
Screenings for cancer, diabetes, and heart disease
Vaccines (flu, COVID-19, pneumonia, shingles)
By catching health issues early, you can avoid costly treatments later. In 2025, Medicare continues to expand access to virtual preventive care through telehealth — a convenient, money-saving option for rural and homebound beneficiaries.
3. Check Your Prescription Drug Costs — and the New 2025 Cap
Big news for 2025: the Medicare Part D out-of-pocket cap goes into effect this year, limiting what you pay for prescriptions to $2,000 annually. Once you hit that amount, you won’t owe more for covered drugs for the rest of the year.
Other ways to save include:
Asking your doctor about generic or lower-cost alternatives
Using preferred network pharmacies in your Part D plan
Switching to mail-order pharmacies for 90-day supplies at discounted rates
4. Consider a Medicare Advantage Plan with Extra Perks
Medicare Advantage (Part C) plans can help lower total costs by bundling hospital, medical, and drug coverage into one plan — often with $0 monthly premiums.
Many 2025 Advantage plans also include valuable extras such as:
Dental, vision, and hearing coverage
Fitness or meal programs
Transportation benefits to medical appointments
Telehealth visits with low or no copay
If you’re healthy and your preferred doctors are in-network, an Advantage plan could significantly reduce your out-of-pocket costs.
5. Apply for Medicare Savings Programs and Extra Help
If your income or assets are limited, you may qualify for programs that pay part or all of your Medicare costs.
Medicare Savings Programs (MSPs): Can help pay your Part A and Part B premiums, deductibles, and copays.
Extra Help (Low-Income Subsidy): Helps reduce or eliminate your Part D prescription costs.
These programs are updated annually, and the 2025 income limits are slightly higher — meaning more people now qualify. Contact your local State Health Insurance Assistance Program (SHIP) or Social Security office to check your eligibility.
Bonus Tip: Ask Before You Get Care
Before scheduling a procedure or lab test, always ask:
“Does Medicare cover this service?”
“Is this provider in my plan’s network?”
“What will my copay or coinsurance be?”
A quick call can prevent surprise bills and help you choose cost-effective options.
Final Thoughts
Medicare doesn’t have to drain your wallet. By reviewing your coverage annually, using preventive care, understanding new 2025 rules, and taking advantage of assistance programs, you can keep healthcare costs manageable — and your peace of mind intact.
Need help finding the best Medicare plan for your situation?
Visit https://sentinelretirementservices.com
