3 Medicare Changes That Will Actually Benefit You This Year
If you are one of the nearly 65 million people who have Medicare coverage, you have probably learned two things by now: Medicare does not cover everything and the costs continue to rise each year. Ready for some good news for a change? The Centers for Medicare and Medicaid Services (CMS) have announced some much-needed improvements for Medicare beneficiaries in 2023.
Here’s what you can look forward to this year:
- Part B costs will decrease: Part B covers outpatient medical care, and as of year 2022 the premium was $170.10 with an annual deductible of $233. In 2023, the standard Part B premium will be $164.90 with an annual deductible of $226.
- Vaccinations, free of cost: If you have prescription drug coverage (Part D) through a stand-alone drug plan, or as part of a Medicare Advantage plan, all covered vaccines will be provided free of cost to you (including the Shingles Vaccine).
- Lower drug costs: For eligible prescription drugs and certain insulins, you will now pay either 25% of the negotiated drug price or $35, whichever is cheaper.
Ultimately, those on high cost drugs will likely see the most savings on eligible medications. Even if you’re just saving $5 a month on Part B, at least you have extra money for a carton of eggs now!
For help with Medicare plans – or any questions you may have about Medicare – contact AMAC’s Medicare Advisory Service at 1-855-611-4856 or request a quote below!