Huge Changes To Medicare in 2023

1. In 2023, some of the biggest changes to Medicare will take effect, benefiting over 65 million Americans by lowering premiums and deductibles and addressing the cost of prescription drugs.

2. Changes to improve access to behavioral health care will be implemented in 2023.

3. The future of telehealth expansions is uncertain; some virtual services introduced during the COVID-19 pandemic may continue, while others might be phased out if the public health emergency is lifted.

4. Part B premiums for Medicare beneficiaries will decrease due to Social Security’s cost-of-living adjustment (COLA) increase by 8.7% in 2023.

5. Enrollment in Medicare Advantage (MA) plans is expected to continue growing, with experts predicting that half of all Medicare enrollees will choose an MA plan.

6. Part B and Part D deductibles will decrease in 2023, providing some relief to beneficiaries.

7. Copays for insulin will be capped at $35 for a 30-day supply, regardless of whether the Part D deductible has been met or not.

8. Vaccines recommended by the Centers for Disease Control and Prevention (CDC) will be available to Medicare recipients with prescription drug coverage for free.

9. Pharmaceutical manufacturers will face penalties if they raise drug prices above the rate of inflation, aiming to make medications more affordable for beneficiaries.

10. Medicare will negotiate prices with drugmakers for certain Part D drugs, leading to more affordable drugs for beneficiaries starting in 2026.

11. Some telehealth rules will change after the COVID-19 pandemic, with potential extensions to certain services and permanent access to behavioral health care via telehealth.

12. Medicare will expand coverage for “medically necessary” dental services needed with other medical procedures, improving access to dental care for beneficiaries.

13. Enrollment access to Medicare will be improved, with shorter waiting periods for coverage to take effect during enrollment periods, including new special enrollment windows for certain situations.