What's new in Medicare for 2024

 

The Medicare Annual Enrollment Period is coming up, and that means it's time to start thinking about your coverage for 2024.

This year, there are a few new things to be aware of, including changes to premiums and deductibles, as well as new coverage options.

Premium and deductible changes

The standard monthly premium for Medicare Part B will increase by $9.80 in 2024, to $174.70. The annual deductible for Medicare Part B will also increase, by $14, to $240.

New coverage options

In addition to the changes to premiums and deductibles, there are also a few new coverage options that will be available to Medicare beneficiaries in 2024. These include:

• New Medicare Advantage plans: There will be a number of new Medicare Advantage plans available in 2024, offering a variety of benefits and features. Be sure to compare plans to find the one that's right for you.
• Coverage for telehealth services: Medicare will now cover more telehealth services, including mental health services. This means that you can see your doctor or therapist from the comfort of your own home.
• Coverage for over-the-counter medications: Medicare will now cover certain over-the-counter medications, such as insulin and pain relievers. This can help you save money on your prescription drugs.

Other changes to Medicare in 2024

In addition to the changes mentioned above, there are a few other changes to Medicare that will be implemented in 2024. These include:

• New rules for Medicare Advantage plans: Medicare Advantage plans will now be required to offer more coverage for preventive care services, such as cancer screenings and immunizations.
• New rules for Medicare Part D plans: Medicare Part D plans will now be required to cover more prescription drugs, including certain brand-name drugs.
• New rules for Medicare enrollment: Beneficiaries who have both Medicare and Medicaid will now be able to enroll in Medicare Advantage plans online.

How to get help with Medicare enrollment

If you need help with Medicare enrollment, there are a number of resources available to you. You can contact your local Social Security office, visit the Medicare website, or call the Medicare helpline at 1-800-MEDICARE (1-800-633-4227).

The Medicare Annual Enrollment Period is a great time to review your coverage and make sure that you have the right plan for your needs. With the changes that are happening in 2024, it's more important than ever to be informed about your options.