Wednesday Lunch & Learn: Medicare – The Little Things You Need to Know

CGS Staff

Date(s) - 11/15/2023
12:00 pm

As part of The Society’s Medicare Monday series, join us for a Wednesday Lunch & Learn Online session on “Medicare: The Little Things You Need to Know”.

Medicare is probably the best health insurance coverage in America. 65 million older adults receive Medicare. This session will cover a few of the 2023 and 2024 Medicare changes, but will be an opportunity to the audience to ask questions and get answers to some of their ongoing questions. In the area of prescription drugs, In 2023, Medicare started covering all vaccines in full and capped insulin at $35 per month per script.

In 2024, Medicare Extra Help is increasing with the income level for individuals to get help with out-of-pocket costs of prescription drugs to $21, 870 per year for an individual ($30,000 for a couple). The out-of-pocket costs for prescription drugs is being reduced. Individuals who spend more than $3250 in combined drug costs between the patient and the drug plan will not have a co-pay for prescriptions after they reach that level. By law, drug manufacturer patient assistance programs cannot assist people with federal insurance, including Medicare. Drug manufacturer assistance programs support people who are uninsured and people with commercial insurance. Medicare Advantage plans are expanding coverage for vision, hearing and dental. Prior authorization is always a struggle for health care providers. Final rules are being written to have an electronic prior authorization process, shorter times for receiving prior authorizations, and data sharing. Hate those Medicare commercials, Medicare is looking to regulate marketing materials and activities. Companies will not be allowed to use the Medicare name, logo, and card; nor will they be able to use superlatives in marketing. Lastly all materials must address a specific plan.