2023 Changes in Medicare

Listen to Heather's radio show covering this topic here. 
See the powerpoint presentation for her 2023 Medicare changes seminar at the Public library. ​

2023 Changes in Medicare

2023 Changes in Medicare are out and there are plenty. Here is that you need to know:
Medicare Part A & B changes include to the premium, deductibles, copays and how Medicare calculates and reimburses provides and private health plans. Let's take a closer look at Part A & B changes in Medicare for 2023.

• Part A premium (most will have free part A if you or your spouse worked 10 years or 40 quarters) if not you could pay either $278 if you have 5 years of work credits or $506 for 10 years or 20 quarters in 2023.
• The In-patient hospital deductive during the initial benefit period is now $1600 up from $1556 in 2022.
• $400 per day co-pay for each hospital day for days 61-90.
• $800 per day co-pay for each lifetime reserve day. Each Medicare beneficiary has 60 lifetime reserve days.
• Part B premium DROPS from $170.10 in 2022 to $164.90 in 2023
• Part B deductible will be lower than 2022 at $226

Enrollment Timeline Changes
People applying for Original Medicare during their initial enrollment period (7 month window - 3 months before their 65th birthday the month of and 3 months after your birth month) will be able to start coverage the month immediately following your signature date..

The general election period to enroll in Original Medicare which is January 1 through March 31 - now grants Medicare coverage start dates the month following the signature date whereas beneficiaries would have to wait until July 1 for Medicare to start.

ESRD changes
Medicare will now change how providers who care for dialysis patients are compensated. 36 months after a successful kidney transplant Medicare now offers coverage for anti rejection medicines .

Medicare ends Medicare has required all insurance agents record  telephone calls.
Reminder - no one should call you on the phone to discuss your Medicare options unless you asked them to. Please do not deal with people who cannot answer your questions and are clearly reading a script. Please view all new plan options here

More Preventative care changes:

• Free COVID, Flu, pneumonia, and Hepatitis B vaccinations will be free and are covered under Part B
• Medicare drug coverage (Part D) generally covers all other recommended adult immunizations (like shingles, tetanus, diphtheria, and pertussis vaccines) to prevent illness. They are now going to cost ZERO out of pocket through your Part D starting in 2023.
• Medicare will negotiate to get lower drug costs In 2023, Medicare will announce the first 10 drugs selected for negotiation soon.
• The cost of a month’s supply of each Part D-covered insulin will be capped at $35, and you won’t have to pay a 
  deductible for insulin starting January 1, 2023.

Payment Changes

• Medicare has announced an increase/change to how many providers are reimbursed for their services.

Future 
The inflation reduction act continues to roll out improvements and changes to Medicare for 2023, 2024, and 2025.