Medicare Insurance Plans
Important changes to Medicare Benefits in 2024
Telehealth
Services
Medicare will continue to cover certain telehealth services till Dec 31, 2024 that include:
- Office Visits
- Psychotherapy
- Consultations
- Certain Medical & Health Services
However, starting Jan 1, 2025, most telehealth services will be covered only if you are in an office or medical facility located in a rural area.
Supplemental Benefits continue in 2024
Medicare Advantage Plans will continue offering supplemental benefits that include:
- Eyewear
- Hearing Aids
- Preventive and Comprehensive Dental Benefits
- Over-the-Counter (OTC) Items
- Fitness Benefits
Medicare Part D: 5% Coinsurance beyond Threshold Eliminated
Medicare Part D:
5% Coinsurance beyond Threshold Eliminated
Medicare Part D enrollees without low-income subsidies (LIS) who spend significant amounts on covered drugs qualify for catastrophic coverage.
The catastrophic threshold for 2024 is set at $8,000. Importantly, starting in 2024, you will no longer be required to pay the 5% coinsurance.
The out-of-pocket expenses that help you qualify for catastrophic coverage include:
- Deductibles
- Value of the manufacturer price discount on brands (during the coverage gap phase)
- Amounts paid by others on your behalf
- Amounts paid by any Assistance Programs
Key Dates for Medicare
2024 Plan Year
Annual Enrollment Period (AEP)
Oct 15, 2023 to Dec 7, 2023
- You can switch from Medicare to a Medicare Advantage Plan
- You can sign-up or modify your Prescription Drug Plan (Medicare Part D)
Medicare Advantage Open Enrollment Period (OEP)
Jan 1, 2024 to Mar 31, 2024
If you are enrolled in a Medicare Advantage Plan:
- You can change to another Medicare Advantage Plan.
- You can go back to Medicare, with or without a Prescription Drug Plan (Medicare Part D).
5-Star Special Enrollment Period (SEP)
Dec 8, 2023 to Nov 30, 2024
Each year, Medicare rates Medicare Advantage Plans and Medicare Prescription Drug Plans based on customer surveys and the overall quality of care provided by the plans to their enrollees. A select few of these plans get the highest rating of 5 Stars.
- If you live in an area served by these plans, you can sign-up during this period.
Special Enrollment Periods (SEP)
Sign-up period is determined by the specific life event affecting you.
You can enroll in Medicare outside of the regular enrollment periods when faced with certain extenuating circumstances that include:
- You change where you live
- You lose your current coverage
- You have a chance to get other coverage
- Your plan changes its contract with Medicare
- Other special situations
Initial Enrollment Period (IEP)
7-month period (3 months before and 3 months after your eligibility month)
When you first become eligible to sign-up for Medicare, you have a 7-month window to enroll that starts 3 months before your eligibility month and ends 3 months after your eligibility month.
Example: If you are eligible for Medicare when you turn 65 and let's say, your birth month is August...
In the year you turn 65 (and hence, eligible for Medicare), your 7-month sign-up window begins in May and ends in November.
Medicare Insurance Inquiry Form
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Download the Latest Free Medicare Handbook (2024)Descargue el último manual gratuito de Medicare (2024)
FAQs
What are the important changes to Medicare in 2024?
- Medicare will continue to cover Telehealth Services till Dec 31, 2024.
- Supplemental Benefits by Medicare Advantage Plans continue in 2024.
- For Medicare Part D enrollees, the 5% coinsurance beyond Catastrophic Threshold is eliminated.
Medicare will continue to cover certain telehealth services till Dec 31, 2024 such as Office Visits, Psychotherapy, and Consultations.
Supplemental Benefits offered by Medicare Advantage continue
Medicare Advantage Plans will continue to offer supplemental benefits that include:
- Eyewear
- Hearing Aids
- Preventive and Comprehensive Dental Benefits
- Access to Meals
- Over-the-Counter (OTC) Items
- Fitness Benefits
5% coinsurance beyond Catastrophic Threshold is eliminated
Medicare Part D enrollees without low-income subsidies (LIS) who spend significant amounts on covered drugs qualify for catastrophic coverage.
The catastrophic threshold for 2024 is set at $8,000 and you are no longer required to pay the 5% coinsurance when your out-of-pocket spending crosses the catastrophic threshold.
When is the Medicare Annual Enrollment Period (AEP) for 2024 Plan Year?
What changes can I make during the Annual Enrollment Period?
- You can switch from Medicare to a Medicare Advantage Plan.
- You can sign-up or modify your Prescription Drug Plan (Medicare Part D).
When is the Medicare Advantage Open Enrollment Period (OEP)?
What changes can I make during the Medicare Advantage Open Enrollment Period (OEP)?
- You can change to another Medicare Advantage Plan.
- You can go back to Medicare, with or without a Prescription Drug Plan (Medicare Part D).
What is Medicare 5-Star Special Enrollment Period (SEP)?
When is the Medicare 5-Star Special Enrollment Period (SEP)?
Who can enroll during the Medicare 5-Star Special Enrollment Period (SEP)?
How do I replace my Medicare Card?
- Print Online: Log into your Medicare account on the secure Medicare.gov login page and print an official copy of your Medicare Card. If you don't have an account, you can create one at this Medicare.gov weblink.
- By Mail: Call Medicare at (800) MEDICARE (800) MEDICARE ((800) 633-4227) to request a replacement card to be sent in the mail. TTY users can call (877) 486-2048.
