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If you’ve heard the term “donut hole” used when talking about Medicare drug coverage, you might know it hasn’t exactly been a sweet deal. The donut hole was a gap in Medicare Part D plans where, after reaching a certain limit, you had to pay more out of pocket for your prescriptions. For many people, especially those on fixed incomes or managing ongoing health conditions, this extra cost was a real burden. Over time, the Affordable Care Act helped reduce the financial impact, but the gap still caused confusion and stress for many Medicare enrollees.

Now there’s good news: as of January 1, 2025, the donut hole is officially closed. Thanks to a new law called the Inflation Reduction Act, your out-of-pocket costs for Medicare Part D prescription expenses will be capped. Once you spend $2,000 in a year on covered medications, you won’t pay anything more for the rest of that year. This change makes drug coverage much easier to understand—and it offers peace of mind, knowing your medication costs are now more predictable and manageable.

If you’re one of the many Americans who get life insurance through work, you might assume you’re covered — but is that group policy really enough? Financial professionals are cautioning that workplace life insurance might not provide the full protection your loved ones need.

Most employers offer a group life insurance policy that pays out one to two times your annual salary as a death benefit. That sounds helpful, but if you have a mortgage, children, or any long-term financial obligations, it may fall short.

Here are some key reasons why relying solely on workplace group life insurance might not be enough in 2025. First of all, coverage often isn’t portable. If you leave your job, you usually lose your policy. It also may not cover your actual needs. Experts often recommend having 5 to 10 times your income in life insurance coverage, depending on your age, debts, dependents, and lifestyle goals. Finally, it’s not tailored to you.

You might want to explore individual life insurance if you’re the primary breadwinner for your family, if you have young children or significant debts, and/or you want coverage that stays with you no matter where you work. With an individual policy, you get more control over the benefit amount, term length, and even whether your coverage builds cash value (in the case of whole or universal life).

The bottom line is that employer life insurance is a great starting point, but for many people it’s not the full solution. In 2025, with higher living costs and growing financial responsibilities, it’s smart to evaluate your life insurance needs beyond the basics. We are here to help! Give us a call and we will review your needs and options.

In 2025, Medicare is expanding its mental health coverage to better meet the growing need for accessible care. A key update is the inclusion of more mental health professionals—such as licensed professional counselors, marriage and family therapists, and addiction specialists—under Medicare. This change increases access to care, particularly in underserved and rural areas. Telehealth services, including audio-only options, remain covered, allowing beneficiaries to receive mental health support remotely. Federally Qualified Health Centers and Rural Health Clinics can also continue serving as telehealth providers.

Medicare Part B continues to cover outpatient mental health services like therapy, counseling, and psychiatric evaluations. A notable addition in 2025 is coverage for intensive outpatient program (IOP) services, which offer structured support for those needing more than standard therapy. Medicare has also introduced new billing codes for comprehensive mental health assessments and safety planning services, aimed at improving early detection and suicide prevention.

Medicare Part D now caps annual out-of-pocket prescription drug costs at $2,000 , making medications—including those for mental health—more affordable. Inpatient psychiatric care remains covered under Part A for individuals facing severe mental health crises, including hospital stays, therapy, and medication management. Medicare Advantage plans will reflect these updates as well, so beneficiaries are encouraged to review their options during open enrollment to ensure their mental health needs are fully supported.

The Centers for Medicare & Medicaid Services (CMS) have proposed updates to how the Health Insurance Marketplace operates in 2025, with a focus on improving accuracy and maintaining affordability. The goal of the new rule is to strengthen verification processes, ensure that financial assistance is going to those who are eligible, and keep the system running efficiently.

Key changes would include updates to how income is confirmed during enrollment, adjustments to special enrollment period eligibility checks, and possible changes to Open Enrollment timing. While these may seem like behind-the-scenes tweaks, they’re intended to support a more stable insurance environment—helping the Marketplace continue offering coverage options that work for a wide range of people, including those just aging out of a parent’s plan or buying coverage on their own for the first time.

For more information, visit CMS.gov , and remember that we are always here to help you. Have questions? Don't hesitate to call!