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Medicare Changes In 2024: What's New?

Changes are coming to Medicare costs and coverage in 2024. Announced in time for the annual open enrollment period, which continues through December 7, the adjustments affect both Original Medicare and Medicare Advantage beneficiaries.
The article from Forbes Advisor outlines several significant changes to Medicare for the year 2024. Key updates include a 3.2% increase in Medicare Part B premiums, rising from $164.90 to $174.70 per month, and a slight decrease in the Part B deductible from $226 to $240. Medicare Part A, which covers hospital stays, will see no change in the inpatient hospital deductible, remaining at $1,632 per benefit period. However, the coinsurance amounts for hospital stays beyond 60 days will increase. Additionally, the Medicare Part A premium for those who need to buy into the program will decrease. The article also discusses changes in Medicare Advantage and Part D plans, including a cap on out-of-pocket costs for Part D at $8,000, and adjustments to the Extra Help program for low-income beneficiaries. Furthermore, there are enhancements in coverage for mental health services, telehealth, and insulin costs, reflecting ongoing efforts to improve access and affordability in healthcare for Medicare beneficiaries.

Read the Full Forbes Article at:
[ https://www.forbes.com/advisor/health-insurance/medicare/medicare-changes-2024/ ]