Changing Medicare Supplement Plans
If you aren't happy with your current Medicare supplement plan or are feeling overwhelmed by choosing a plan, you'll find comfort in knowing that it's possible to switch Medicare supplement plans. Here's what you need to know to switch plans, including why, when and how. U.S. News & World Report, Aug. 4. Click here to learn more.
CMS Releases 2024 Projected Medicare Part D Premium and Bid Information
The Centers for Medicare & Medicaid Services (CMS) released Calendar Year (CY) 2024 Medicare Part D premium and bid information. This annual release provides information to help Part D plan sponsors finalize their offerings and individuals understand overall Part D premium trends ahead of Medicare Open Enrollment. The average total monthly Part D premium is projected to decrease from $56.49 in 2023 to $55.50 in 2024. Stable premiums for Medicare prescription drug coverage in 2024 are supported by improvements to the Part D program in the Inflation Reduction Act (IRA), or the prescription drug law, that allow people with Medicare to benefit from reduced costs. Click here to learn more.
CMS Roundup (June. 30, 2023)
Today, the Centers for Medicare & Medicaid Services (CMS) is providing an at-a-glance summary of news from around the agency. Click here to learn more.
Medicare Drug Price Negotiation Program
For the first time in history, Medicare has the ability to directly negotiate the prices of covered prescription drugs due to passage and implementation of a historic prescription drug law, the Inflection Reduction Act. Today, the Center for Medicare & Medicaid Services (CMS) released revised guidance detailing the requirements and parameters of the new Medicare Drug Prive Negotiation Program for the first round of negotiations, which will occur during 2023 and 2024 and results in prices that will be effective beginning in 2026. Alongside other provisions in the new drug law that increases the affordability of health care and prescription drug costs, the Medicare Drug Price Negotiation Program strengthens Medicare's ability to serve people with Medicare now for generation to come. Click here to learn more.
