As open enrollment for Medicare continues, millions of Americans are urged to evaluate their options to ensure the best coverage for their health needs and financial situation, according to Dr. Meena Seshamani, Director of the Center for Medicare for the Centers for Medicare & Medicaid Services.
Talking to KRLD's John Liddle, Dr. Seshamani stressed the importance of taking advantage of open enrollment, as health needs, available options, and financial situations can change each year.
She highlighted significant changes happening in the Medicare program, including new provisions under the Inflation Reduction Act, designed to provide financial relief to Medicare beneficiaries.
"Thanks to the new drug law, people in Medicare who take insulin don't have to pay more than $35 a month for a covered insulin, which is life-changing for people who take insulin," Dr. Seshamani says. "Also, recommended vaccines are available at no cost to people with Medicare."
Starting in 2024, the Medicare program will expand the eligibility of its financial assistance program, Extra Help, which assists with the cost of prescription drugs. Additionally, for those with high-cost prescription drugs, once they reach a certain threshold, they will no longer have to pay out of pocket.
To ensure beneficiaries make informed decisions regarding their healthcare, Dr. Seshamani encouraged all Medicare participants to visit the official Medicare website, Medicare.gov, or contact them directly at 1-800-MEDICARE. She stressed that these official sources provide accurate and comprehensive information regarding available options.
"If you go to Medicare.gov, it walks you through your options. And the first big option is between traditional Medicare and Medicare Advantage," she detailed. "From there, you can input on our website your prescription drug information, and you can pull up side-by-side comparisons of different options so that you can pick an option that suits your health needs and your financial situation."
While the open enrollment period runs through December 7th, Dr. Seshamani emphatically stressed the importance of acting promptly.
"It's so important we're having this conversation today because people should act now. If you miss the December 7th deadline, you will have to wait until next year's open enrollment period, which means that you could miss out on saving money or getting better healthcare," warned Dr. Seshamani.
To assist individuals in making informed choices, local personalized help is available through the state of Texas online at: www.hhs.texas.gov/services/health/medicare.
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