Deadlines Approaching For 2023 Health Insurance Decisions

Published: 30.11.2022 17:43:04

Big savings for Medicare seniors are coming next year, including on insulin costs, but changes like these show the importance of preparing for the time to phase out health insurance, even for those not enrolled in the programs.

Open enrollment, the ability to choose a health insurance plan through 2023, will last until January 15, a deadline that should be considered early.

"The Dec. 15 deadline is important for people who have a plan now because your plan starts again on Dec. 15. So there you have it, come Jan. 1," said Kate Bolingall, a funded health insurance investigator from Concord. Wednesday in a webinar on changes in the healthcare market.

"It is very important to review your plan before December 15," he said. Among the problems: "Some plan names have changed, so you might think you're going to a different plan, but it might be the same."

The Inflation Relief Act, passed by Congress this year and signed into law by President Biden, provides some financial benefits to Medicare seniors. Many vaccines, including tetanus and pneumonia, which are common in the elderly, will be free next year. No one on Medicare pays more than $35 a month for insulin.

The bill would give Medicare the power to negotiate the price of many drugs over the next few years, capping the price at 2,000 per year for Medicare beneficiaries after 2025.

Unless further changes are made, the benefit won't apply to people who buy commercial health insurance, though that's unlikely at the federal level right now.

"We hope that governments will encourage this to become a commercial activity," said Lucy Hodder, professor of law and director of the Health Law and Policy Program at UNH Franklin Pierce School of Law. We will see if the states pick up where the federation left off.

Another change of AKK is the end of the so-called "family crisis" next year. Previously, people with family members who received health insurance through their jobs could not access federally subsidized Affordable Care Act marketplace plans. Now you can, although within certain limits.

Individuals can sign up for a plan through the federal government's website at healthcare.gov. Two navigators, First Choice Services and Health Market Relations, have research people on hand to help advise or make decisions. Browsers cannot recommend a specific plan.

The programs will be offered next year through the federal Healthcare.gov marketplace through Ambitor, Harvard Pilgrim and Matthew Thornton/Anthem. Premiums have risen an average of 4.8% this year, although increases vary by company and level of insurance purchased.

The IRS doesn't want you to know about government changes!