These plans will see new requirements in 2024, including added behavioral health coverage, standardized broker commissions, and midyear benefit notifications. More than half of Medicare beneficiaries now opt for Medicare Advantage (MA), an alternative to traditional Medicare. Medicare Advantage (MA) Plans: A Rising Trend As always, it's important for Medicare enrollees to stay informed and consider their health care needs when reviewing their Medicare coverage options.Ĭheck out to see how you can get your meds for free Beneficiaries should carefully review these changes to understand how their premiums, deductibles, and out-of-pocket expenses may be affected in the coming year. The changes in Medicare for 2024 are designed to make healthcare more affordable and accessible, with particular emphasis on prescription drug costs. Out-of-Pocket Cap: Starting in 2025, a significant change will be an annual $2,000 out-of-pocket cap on Part D spending.Įxtra Help Program Expansion: The eligibility for the Extra Help program, which assists with prescription drug costs, will be expanded in 2024, raising the income threshold and potentially benefiting more enrollees. Once enrollees have spent $8,000 on their medications, they will not incur any more out-of-pocket costs for the rest of the year. Medicare Part D (Prescription Drug Coverage) Changes for 2024Ĭatastrophic Cap: A major change is the introduction of a catastrophic cap.
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