Medicare releases 2025 premium rates in early October, but the exact date shifts year to year
Medicare announces its 2025 premiums and deductibles in the first week of October each year. The Centers for Medicare & Medicaid Services (CMS) holds a press conference, usually on a Tuesday or Wednesday, where they release the numbers for Part B (doctor visits), Part D (prescription drugs), and Medigap plans. The announcement covers what you will pay starting January 1, 2025.
The timing matters because you have 63 days from the announcement to make changes to your coverage — that window runs from early October through the end of December. If you do not act by December 31, your current plan renews automatically at the new rates, and you cannot switch until the next open enrollment period in October 2025.
In 2024, CMS announced premiums on October 2. In 2023, the announcement came October 4. The date is not fixed to a calendar day, so if you are waiting for the 2025 numbers, check Medicare.gov or your plan's website starting the first week of October rather than on a specific date.
Key Takeaways
- CMS releases 2025 premiums in the first week of October, usually on a Tuesday or Wednesday, with the exact date announced a few weeks beforehand.
- You have until December 31 to change plans based on the new rates; after that, your coverage locks in for the year.
- Part B premiums, Part D premiums, and Medigap rates all change on January 1, so check all three if you have coverage in more than one category.
- Your plan will mail you a notice of the new premium by December 1, but you do not have to wait for the mail — the rates appear online as soon as CMS announces them.
Where to find the 2025 premium numbers as soon as they drop
Medicare.gov is the first place to look. On October 2 or whenever CMS makes the announcement, go to Medicare.gov/plan-compare and enter your ZIP code. The tool will show you every plan available in your area with the 2025 premiums, deductibles, and out-of-pocket limits side by side. You do not need to log in to see the rates.
Your current plan will also post the rates on its website. If you have Original Medicare with a Medigap policy, your Medigap insurer will email or mail you a notice with the new premium. If you have a Medicare Advantage plan, your plan's website will update with 2025 rates, and you can log into your member account to see what you will pay.
CMS also publishes a detailed press release on the day of the announcement that breaks down average premiums by state and plan type. This release appears on CMS.gov and is often picked up by news outlets the same day, so you may see the numbers in your email or news feed before you have to search for them.
What premiums are changing in 2025
Part B premiums cover doctor visits, outpatient care, and some preventive services. The standard Part B premium changes every year based on the cost of care and the size of the Social Security cost-of-living adjustment (COLA). Most people pay the standard premium, but if your income is above a certain threshold (roughly $97,000 for a single filer in 2024), you pay a higher amount called an Income-Related Monthly Adjustment Amount (IRMAA).
Part D premiums are what you pay for prescription drug coverage. These vary widely by plan — some plans cost $5 per month, others $100 or more. The premium you pay depends entirely on which plan you choose, not on your income. However, if your income is above the IRMAA threshold, you also pay a surcharge on top of the plan premium.
Medigap premiums are set by the insurance company, not by Medicare, so they can rise independently of the Part B or Part D announcement. Some Medigap insurers raise rates in January, others at different times of year. Check your plan's website or your renewal notice to see when your Medigap rate takes effect.
How to compare plans before the December 31 important date
Once the 2025 rates are public, use Medicare.gov/plan-compare to see side-by-side what each plan will cost you. Enter your ZIP code, the medications you take (if you have a Part D plan), and the doctors you see (if you have a Medicare Advantage plan). The tool will show you the total estimated cost for each plan based on your actual usage.
Pay attention to three numbers: the monthly premium, the annual deductible, and the out-of-pocket maximum. A plan with a lower premium might have a higher deductible, so the total cost depends on how much care you actually use. If you take expensive medications, a plan with a higher premium but better drug coverage may cost less overall.
If you are on a Medicare Advantage plan and thinking about switching to Original Medicare with a Medigap policy, remember that you may face medical underwriting — the Medigap insurer can deny you or charge more based on your health history. Open enrollment (October 15 to December 7) is the one time you can switch from Medicare Advantage to Original Medicare and buy a Medigap policy without underwriting, as long as you are 65 or older and have been on Medicare Advantage for at least 12 months.
Income-related surcharges and how they affect your 2025 costs
If your income is above a certain level, you pay IRMAA on top of your Part B and Part D premiums. The income thresholds for 2025 have not been announced yet, but they typically rise by a small amount each year. In 2024, the threshold was roughly $97,000 for a single filer and $194,000 for a married couple filing jointly.
CMS uses your tax return from two years prior to calculate IRMAA. So your 2025 IRMAA is based on your 2023 tax return. If your income dropped in 2024 — because you retired, sold a business, or had a major life change — you can request a reduction in your IRMAA by filing a form with Social Security. The reduction takes effect the month after you file, so if you file in October, it applies to your January 2025 premium.
When CMS announces the 2025 premiums in October, they will also release the 2025 IRMAA thresholds. If you think you might be affected, note the threshold and compare it to your 2023 tax return.
What to do if your plan is being discontinued
Insurance companies sometimes stop offering a plan in your area, even if you have been on it for years. When this happens, Medicare sends you a notice by October 1 telling you that your plan is ending and offering you alternatives. You have until December 31 to choose a new plan, and if you do not choose one, Medicare will automatically enroll you in a similar plan offered by the same company (if available) or another plan in your area.
Do not wait for the automatic enrollment. Use Medicare.gov/plan-compare to find a plan that fits your needs and your budget, then switch before the important date. Automatic enrollment sometimes puts you in a plan with higher costs or a different pharmacy network than you prefer.
Frequently Asked Questions
Will my Part B premium go up in 2025?
Part B premiums usually rise each year, but the amount depends on the cost of care and the Social Security COLA. The 2025 premium will be announced in early October. If you have IRMAA, your surcharge may also change based on the new income thresholds.
Can I change my Medicare plan after December 31?
No, unless you have a may have access to life event like losing employer coverage, moving out of your plan's service area, or becoming may be able to access for Medicaid. The next open enrollment period is October 15 to December 7, 2025. If you miss the December 31 important date, your current plan renews automatically.
Do I have to switch plans if my premium goes up?
No, but you have the right to. If your current plan's premium rises and you find a cheaper plan that covers your doctors and medications, you can switch during open enrollment. Compare total costs, not just premiums, because a cheaper plan might have higher deductibles or copays.
When will I get my plan's renewal notice in the mail?
Plans must mail you a renewal notice by December 1. However, the rates are public online as soon as CMS announces them in October, so you do not have to wait for the mail to start comparing options.
What if I disagree with my IRMAA calculation?
You can request a reconsideration with Social Security if your 2023 income does not reflect your current situation due to a life event like retirement or job loss. File the request as soon as possible so the reduction takes effect before January 1, 2025.