Medicare Open Enrollment 2024: What You Need to Know

The Annual Open Enrollment Period (AEP), which runs between 🗓️October 15 and December 7, 2023, for renewals in 2024, is in full swing. CMS requires all agents to record any phone calls. Therefore, after you fill out the required Scope of Appointment (SOA), please call me at my new dedicated phone line (for Medicare clients) at 310-331-0804.

For 2024, Medicare Part B (Hospital) monthly payment will increase from the current 💸$164.90 to $174.70. If you are a high-income earner, please click here to see the IRMAA 2024 cost. The annual deductible for Part B will increase from $226 to $240 in 2024. The monthly social security payments will increase by 3.2%, meaning an average increase of $50 per month. This is a slower increase than the overall inflation of 4% in 2023.

In the Part D prescription💊 world, the costs of prescriptions are changing significantly from 2023 to 2024, so it is best to know your updated prescriptions so we can choose the tailor-fit prescription plan for you.

In the Medicare Advantage (MAPD) Plan C HMO world, the primary doctor🩺 is your gatekeeper and will refer you to specialists inside their network. For 2024, there are also new PPO plans with interesting networks.

In the Medigap and Medicare Supplemental World, where you can access any Medicare contracted doctor in the USA without a referral, Blue Shield allows the freedom to switch🔁 for Plans G Extra from October 1st to December 31st, 2023, with an effective date of 1/1/2024. Let me know if you are not satisfied with your current premium so that I can provide you with a side-by-side overview of various Medicare Insurance carriers. In general, you can only switch 30-60 days from your birthday to another Medicare supplemental plan without medical underwriting aka the “Birthday🎂 Rule.”

Medicare enrollment is a significant milestone in one’s life. Additionally, it provides access to vital healthcare services during your senior years. While educating yourself on the available options, enrollment periods, and the plan that best suits your individual needs, in order to make the most of your Medicare benefits. Furthermore, by staying informed and making well-informed choices, you can ensure peace of mind and quality healthcare as you navigate the Medicare system.

If you are about to turn 65, explore this blog to discover valuable insights on securing cost-effective health insurance options for your senior years.

At Solid Health Insurance Services, we take great pleasure in guiding you through the array of plan choices. Not only your health insurance, but also, dental, vision, life, and long-term coverage. Do not hesitate to call my new dedicated phone line (for Medicare clients) at ☎️ 310-331-0804, email us at barb@solidhealthinsurance.com, or schedule a quick meeting for more information. Your well-being is our top priority, and we will continue to provide tailored solutions and support to meet your unique needs and ensure your financial security.