Major adjustments to federal health insurance next year- Financial management expert Lei Duanjian teaches selection tips
In an insightful discussion about upcoming changes to Medicare, financial advisor Ray Duanjian shared valuable advice for seniors at the Silver Living Expo. With significant adjustments to federal health insurance on the horizon for 2025, he emphasized the importance of understanding one’s Medicare options based on current prescription medication needs.
“The Medicare program will undergo major reforms next year, with the prescription drug coverage cap being raised to $2,000,” Duanjian noted. “This change could result in higher premiums, and if premiums don’t increase, we may see a reduction in coverage for social insurance prescriptions, along with rising drug prices.”
Duanjian urged attendees to take a careful look at their Medicare options during the 2024 open enrollment period. He advised, “It’s crucial to enter your current prescription medications into the Medicare evaluation to better understand which options serve your needs best. Don’t rely on recommendations from neighbors or friends about which plan might be best.”
As a Malaysian-born third-generation Chinese American with a CPA license and a Level 7 financial advisor license from FINRA, Duanjian has extensive experience working with major financial firms like MetLife and Citigroup. He aims to share his expertise with the community, stating, “In the limited time of my presentation, I hope to convey essential knowledge about Medicare options and encourage everyone to enhance their understanding of health insurance each year.”
Duanjian’s session titled “Budgeting Your 2025 Medicare Choices” is scheduled to take place at 2:55 PM at the center, inviting all interested individuals to attend and learn.
