With the new year still fresh, now is a great time to take advantage of Medicare enrollment and the features on offer. It’s also a good time to take a look at how Medicare has changed since last year.
Did you know about your Medicare gym benefit? If you’ve been breaking a sweat about staying fit, your Medicare Advantage plan or Medigap plan may offer coverage for a gym membership. You may be able to take advantage of classes, trainers, and other gym amenities, including special options designed with your needs in mind.1
Medicare General & Medicare Advantage Enrollment Begins
Even if you’re already enrolled in Medicare Advantage, it pays to know the basics of your plan. For example, when it comes to picking a health-care provider, in most cases, you’ll need to use those who participate in your plan’s network. Often, Medicare Advantage plans set a limit on the amount you need to pay out of pocket each year for the services covered. Some even offer non-emergency coverage out of network, though typically at a higher cost. Remember, you must use your Medicare Advantage plan card to obtain your Medicare-covered services. Don’t leave home without it.2
Facts About Medicare And The Inflation Reduction Act
The Inflation Reduction Act makes major changes in costs affecting Medicare users. These include a price cap on prescription drugs for Medicare users, widening access to subsidies for those with limited means, and an elimination of a copay paradigm that caused an increase in fees for many Medicare beneficiaries. The new scheme caps the costs to Medicare users as their contribution to their catastrophic threshold (the new threshold will be $7,750, with the beneficiary contribution projected at $3,250). These simplifications and reductions in cost will bring drug costs down for many.3
Monument Valley in Utah.
January 1: Medicare General Enrollment Begins
January 1: Medicare Advantage Enrollment Begins
January 15: Medicare Advantage/Part D Rate Release
March 31: Medicare General Enrollment Ends
March 31: Medicare Advantage Enrollment Ends
April: Flu Season Ends
September: Private plans send notice if there will be any change in cost, coverage, or service area
October 15: Medicare Open Enrollment Period Begins
November: Flu season begins
November 6 (estimated): Medicare Parts A & B Premiums & Deductibles Announced
December 7: Medicare Open Enrollment Ends
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
Your Quarterly Medicare Newsletter
February 27, 2023