The Medicare open enrollment is now with a December 7 deadline. We urge you to get started if you haven’t yet taken advantage of this open enrollment period. By signing up now you avoid any penalties associated with late enrollment. If you or a loved one needs assistance getting enrolled we would be glad to assist you.
2022 marks the highest Medicare enrollment in history with over 63 million members. As Medicare grows, changes have been made to the way seniors pay for monthly premiums and deductibles.
This article describes changes that have happened this year with your medicare benefits.
Medicare benefits cost more in 2022
The most important change to Medicare benefits in 2022 is their rise in monthly premiums as well as deductibles.
You can expect to pay more this year however the benefits you receive will remain relatively unchanged.
Medicare part B premiums skyrocketed in 2022
Medicare part B covers outpatient services such as doctor visits, lab tests, and diagnostic screenings. The program had its most significant cost increase in history.
Medicare members are charged $170.10 for the same benefits that had cost $21.60 the year prior. Rising healthcare care prices in 2021strained government programs and led to an unprecedented rise in monthly premiums.
2022 brought higher deductibles for Medicare members.
A Medicare Part A hospital admission deductible will now cost $1,556.
The Annual Part B Deductible has increased 10 percent since last year to $233.
This year Medicare Advantage members may enroll in additional Part-D insulin coverage.
Diabetes is one of the number one diseases affecting seniors in the United States. These recent allow Medicare Advantage members to enroll in cost-sharing programs Potentially saving thousands of dollars
According to diabetes.org, The percentage of Americans age 65 and older remains high, at 29.2%, or 15.9 million seniors (diagnosed and undiagnosed). New cases: 1.4 million Americans are diagnosed with diabetes every year.
While you may find the number of seniors with diabetes surprising it should be that the federal government is taking measures to cut insulin costs.
Starting in 2023, all people with Medicare who take insulin covered by their prescription drug plan or through a traditional pump covered under Original Medicare will pay no more than $35 in cost-sharing for a month’s supply of each covered insulin product.
Medicare is taking mental healthcare more seriously.
The World Health Organization defines health as “a state of complete physical, mental, and social well-being and not merely the absence of disease or infirmity”
Medicare is taking measures to improve seniors’ mental health by expanding its benefits to include mental health appointments via telecommunications as well as in-person visits.
More seniors have enrolled in Medicare Advantage plans than ever before
With the rising cost of original Medicare premiums, switching to Medicare Advantage is an even better option in 2022.
As of 2022 48% of Medicare, members have enrolled in a Medicare Advantage plan.
Seniors are often drawn to Medicare Advantage plans because they cover everything Original Medicare covers plus additional benefits. Medicare Advantage plans generally have lower monthly premiums than Original Medicare or Medicare Supplement plans.
Who can join a Medicare Advantage Plan?
Your Medicare Advantage Plan is meant to replace your existing Part A and B Medicare benefits. Nearly all members of medicare are eligible for a Medicare Advantage Plan.
To join a Medicare Advantage Plan, you must:
- Have existing Part A and Part B benefits.
- Live in the plan’s service area.
- Be a U.S. citizen or lawfully present in the U.S.
Your care at Meadowcrest Family Physicians will be covered under Medicare or Medicare Advantage.
After many years of serving Medicare patients, We have found that our patients are getting better benefits with Medicare Advantage Plans and strongly recommend that you explore your Medicare Advantage options. You can be certain that your medicare benefits will be accepted and you will continue to receive the care you deserve.
At Meadowcrest Family Physicians You can be certain that your medicare benefits will be accepted and you will continue to receive the care you deserve. Our commitment to care goes much beyond our office. If you need additional information regarding Medicare Advantage plans we have resources to help. Please make an appointment with our in-office rep to learn your options.