Between December 7 and January 1 is the window to enroll, modify, or terminate a plan.
Maintaining an up-to-date Medicare Advantage or Part D prescription drug plan is crucial if you’re already a participant. Annual adjustments in the cost of health and drug plans and the services they cover are reasons for this.
As an example, the standard monthly premium for a Medicare Part D prescription drug plan is set to be $32.74 in 2023, a slight decrease from the 2022 rate of $33.37. However, premiums for particular plans and locales change annually. They could be above or below this figure, as indicated by studies. Premiums for prescription drug plans can also differ significantly within a single state.
Medicare Advantage plans might present more affordable initial premiums, yet they could limit your choices of healthcare providers and possibly make obtaining approval more cumbersome.
As a basic principle, verify that your physician and other healthcare providers are within the plan’s network, ensure all your prescriptions are included, and confirm that your pharmacy is considered preferred and is included in the plan.
