Category Archives: Medicare News

Medicare News

Medicare Costs in 2023

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Happy New Year, Medicare beneficiaries! It’s time to get excited about the changes and savings that come with a new year of coverage.

In terms of costs, we’ve got some great news for you. The unadjusted Medicare part B premium was reduced for the first time in history from $170.10 in 2022 to $164.90 in 2023! This means that most beneficiaries will save more than $60 in premium costs this year. It’s always nice to start the year with some extra money in your pocket.

While the hospital part A deductible increased slightly from $1,552 in 2022 to $1,600 in 2023, it’s important to remember that you have options. This is the Open Enrollment Period for Medicare Advantage enrollees, which means it’s a great time to review your plan and make sure it’s still the best fit for you. If your current plan is costing you more than it’s saving you, it may be time for an adjustment. With so many plans available, there’s sure to be one that fits your unique needs and budget.

At Medicare Masterclass, we hope that this new year brings you excellent health, happiness, and peace of mind with your Medicare coverage. Don’t hesitate to reach out to us if you need help reviewing your options and finding the right plan for you. Let’s make 2023 your best year of Medicare yet!

Your Medicare elections could be costing you money. An image of a medical bill is shown.
Your Medicare elections could be costing you money.
Benefits, Medicare News

Medicare Grocery Giveaway

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Did you know that Medicare Advantage plan enrollees may be eligible for up to $3,300 in free groceries every year? Here’s what you need to know:

Flickr / Barbara Steltzon

The grocery benefit is only available with Medicare Advantage plans and varies depending on your plan and location. To find out if your plan offers a healthy grocery benefit, simply call the number on the back of your plan card and ask a member of your plan’s customer care team.

If your plan offers the benefit, you’ll receive a prepaid debit card that can be used at participating grocery stores to purchase healthy food and eligible over-the-counter items. However, not all food items are eligible for the healthy food benefit, so it’s important to contact your plan for more information about eligible items.

Healthy food selection. Not all items are eligible for the healthy food benefit. Contact your plan for more information.

Don’t miss out on this great opportunity to save money on healthy groceries. Contact your plan’s customer care team or visit your plan website to learn more about your grocery benefit and start saving today!

Medicare News

$35 Insulin Price Cap

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Great news for Medicare enrollees who rely on insulin! The recent Inflation Reduction Act caps the cost of insulin for covered insulins at $35 per month, meaning that millions of Medicare beneficiaries will benefit from contained insulin drug costs in 2023.

From NPR: Eli Lilly announced on Wednesday, March 1, 2023, will cut prices for some older insulins later this year, and immediately expand a cap on costs insured patients pay when they fill prescriptions. The moves promise critical relief to some people with diabetes who can face thousands of dollars a year in bills for insulin they need to live. (AP Photo/Darron Cummings, File)

If you’re unsure whether your insulin is covered, contact your part D prescription drug plan provider for formulary information. They can provide you with a list of covered insulins and other important details about your plan’s coverage.

If you need help paying for your medications, be sure to check out our Resources page for possible options for assistance.

At Medicare Masterclass we’re dedicated to helping you make informed decisions about your healthcare coverage. If you have any questions or concerns about your Medicare coverage, please don’t hesitate to contact us. We’re here to help!