Medicare’s Open Enrollment Period has came, and with it beneficiaries are having possibility to make changes in their plan for the next year. But before you make decisions, you need to be aware of some big changes that are coming in Medicare program for the following year. We are bringing you 5 most notable changes for Medicare program in 2023.
MEDICARE START DATE CHANGE
From 2023, if you sign up in the month you turn 65 or in the three months afterwards, your coverage will begin on the first day of the following month. This is a change from previous years, when you had to wait up to three months after you signed up for your coverage to start in some cases.
Those who sign up in the three months before their 65th birthday will receive benefits starting in their birth month, unless their birthday is on the first of a month. Then, coverage begins the month before your birthday. For example, if your birthday is May 1, you could sign up as early as January 2023, and if you signed up between January and March, your coverage would begin April 1.
SPECIAL ENROLLMENT PERIOD – NEW ELIGIBILITY REQUIREMENTS
Starting in 2023, you will be eligible for Special Enrollment Period (SEP) if you miss your Inital or Open Enrollment Period due to exceptional circumstances, which are:
- being affected by a national disaster or emergency
- incarceration
- losing Medicaid coverage
LUNG CANCER SCREENING COVERAGE
Medicare will include lung cancer screening in their preventive care services, starting in 2023. But, it will not be available to everyone, to qualify beneficiaries need to meet the criteria, and in that case they will not pay aything out-of-pocket for this service. Needed criteria are following:
- beneficiary is between 50 and 77 years old
- beneficiary do not have any signs or symptoms of lung cancer
- beneficiary is a current smoker or have quit smoking within the last 15 years
- beneficiary have a tobacco smoking history of an average ona pack per day (or more) for at least 20 years
- beneficiary has got the order from PCP
ADDITIONAL COVERAGE FOR IMMUNOSUPPRESSIVE DRUGS
Before 2023, Medicare coverage for immunosuppressive drugs following a kidney transplant only lasted for 36 months. Starting in 2023, Medicare will continue to pay for these immunosuppressive drugs beyond 36 months if you have no other health insurance. But there is a premium for this coverage. Those interested in this service can sign up beginning Oct. 1, 2022. They must do so by Dec. 31, 2022 if they want their coverage to begin on Jan. 1, 2023.
MEDICARE PART B – LOWER PREMIUMS AND DEDUCTIBLES
The standard Medicare Part B premium will drop to $164.90 in 2023. That’s a decrease of $5.20 per month from 2022, when the standard price was $170.10. Those with incomes greater than $97,000 will pay more than this, but their 2023 premiums will also be a bit lower than their 2022 premiums.
Deductible for Part B is also set to decline by $7 per month. It was $233 for the 2022, and now it will be set-up on $226 for 2023. It may seem like a small change, but it makes a big difference for seniors who are struggling to pay for basic expenses as well as their healthcare costs.
These changes may not affect all beneficiaries, but it is good to keep them in mind. When you choose a new plan, take some time to review all of its coverage options so you understand what you’re signing up for. And review all costs associated with the plan as well so you can plan for them appropriately in your budget.