In 2024, Medicare expenses and coverage will be changed. The Medicare changes, which were announced just in advance of the yearly open enrollment period, which runs until December 7, impact both the original Medicare program and Medicare Advantage enrollees.
To begin, Medicare’s over 65 million enrollees will continue to benefit from the revolutionary drug law enacted in 2022, which aims to reduce what older Americans spend on prescription drugs. At the same time, recipients will pay higher rates and deductibles for medical services.
As more individuals (more than half) participate in the Medicare Advantage program (MA), a private healthcare option to the original Medicare, the shape of Medicare keeps changing.
In addition, the Centers for Medicare & Medicaid Services (CMS), the agency in charge of Medicare, will continue its work in 2024 to improve the coordination of care for original Medicare members.
Read on and find out everything you need to know about the Medicare changes.
