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Medicaid expansion sparked by COVID-19 pandemic will be rolling back soon. Starting April, states will resume the Medicaid Redetermination process after three years of pause. In our state, Health FIrst Colorado and CHP+ will return to normal eligibility with renewals due in May. Notices will be sent this month.
Last year’s omnibus spending bill included $14.1 billion for SSA (Social Security Administration) to help solve their customer service crisis. If you have tried to call your social security office, you know what I mean. It is reported that one out of five calls are never answered, and waiting periods have more than doubled.
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Happy New Year! Will you turn 65 in 2023? For people becoming Medicare eligible for the first time, making choices regarding healthcare moving forward can feel overwhelming. To receive comprehensive coverage, for most people, there are two main buckets to choose from: Enroll in Medicare Parts A&B and add a Medigap and Prescription Drug Plan (along with their premiums) to make up for what Medicare does not cover, or enroll in A&B and then switch to a Medicare Advantage plan. As of last year, over 45% of Medicare beneficiaries chose a Medicare Advantage plan, and expectations are that number will rise to more than 50% by 2025. So what are some of the pros and cons of Advantage plans?
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Happy Holiday Season! It’s time to start cozying up by the fire, spend time with loved ones, and take advantage of the last opportunities to add or switch health plans for 2023!
If you are a Medicare beneficiary enrolled in an Advantage plan, the Annual Enrollment Period for 2023, ends on December 7th. Most folks in our area have kept their current Advantage plans for 2023. Benefits are improving across a variety of Advantage Plans, but not all in the same ways. Depending on what you anticipate your healthcare needs will be in 2023, it may be worth your while to compare plans for next year. If you like the doctor(s) you currently see, they remain in your network and your prescriptions are still covered in 2023, most likely you’ll be staying put. It’s a good idea to verify these things before AEP ends.
Welcome to November! This time of year, the opportunity to review and renew or change your Medicare or individual health plan is the thing to do. But this open enrollment period, over 50,000 Coloradoans got an extra surprise: Bright Health insurance company has decided to leave the Colorado market for 2023 and will no longer be offering health insurance here. I have many individual clients on Bright Health plans, and we will be busy moving them to another carrier and plan for 2023. In order to obtain new coverage effective January 1st, you must enroll no later than December 15th, so don’t delay. Enrollment after December 15th will mean your policy won’t go into effect until February 1st. If you need help, please give us a call. If you currently use Bright Health for your health insurance, your plan will stay in effect until the end of the year, but you will need to find new coverage for January first. Just be sure to keep paying your premium in order to maintain coverage through the end of the year.
