What You Need to Know About Enrolling in Medicare Advantage for 2023
Medicare Advantage plans are available to those aged 65 and over who have enrolled in part A and Part B of Original Medicare. For those looking for additional coverage, Medicare Advantage plans can be an attractive option. The plans are offered by private insurance companies and they combine traditional Medicare, Part A and Part B with additional coverage such as prescription drug coverage. This year, the Centers for Medicare & Medicaid Services (CMS) announced some changes to the program that could make it even more appealing to those looking for added protection. Let’s take a closer look at the benefits of signing up for Medicare Advantage 2023.
The Basics of Medicare Advantage Plans
Before we dive into the specific benefits of enrolling in a plan this year, let’s review how these plans work. Basically, you pay a premium for extra coverage on top of what you get from Original Medicare (Parts A and B). Some plans include vision, dental, hearing aid coverage, as well as prescription drug coverage (Part D). Depending on the plan you choose, you might also receive extra services like wellness programs or transportation to medical appointments. The premiums can vary from one plan to another and there may be copays or coinsurance when you visit your doctor or get care that is not covered under Original Medicare.
Changes in 2023
In 2021 CMS announced some changes that will go into effect in 2023. These changes are designed to make it easier for people to access care while ensuring they get quality care at an affordable price. One of the most significant changes is that insurers now have greater flexibility when it comes to setting premiums and copays. This means that if you want more comprehensive coverage, you may be able to find a plan with lower premiums but higher copays than other plans with less comprehensive coverage but higher premiums. Additionally, insurers will now be able to offer “value-based insurance designs” which allow them to offer lower copays for drugs or services deemed “medically necessary” by CMS guidelines. This could help reduce out-of-pocket costs for enrollees who need certain types of care and treatments regularly.
CMS has also added incentives for insurers who design their plans around providing better access to primary care doctors and specialists without requiring preauthorization before seeing them or getting tests done like MRIs or CT scans. In addition, CMS is working with insurers on ways to reduce paperwork burdens so that patients don’t have to deal with mountains of paperwork every time they seek care or need medication refills. Finally, CMS has also proposed allowing providers more flexibility when it comes to telehealth visits so that enrollees can get the same level of care without having to leave their homes if they don’t feel comfortable doing so due to COVID-19 concerns or other reasons.
For seniors looking for additional protection beyond what Original Medicare provides, enrolling in a Medicare Advantage plan could be an attractive option this year thanks to all of these new changes proposed by CMS in 2021. With potentially lower premiums but higher copays depending on your needs as well as better access and fewer paperwork requirements when seeking care and refills on medications, these changes could make it easier than ever before for seniors aged 65 and older to access quality healthcare at an affordable price through a private insurance provider this year.. Plus, with many states loosening restrictions related telehealth visits during COVID-19 times due t o CMS suggestions there may even be more options available than ever before when it comes time picking out your plan! Make sure you do your research carefully before committing so you can find the best fit possible!