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Medicare Premiums and Cost Sharing for 2023

CMS has released the Medicare premium and cost sharing numbers for 2023, and it’s much better news than we received last year. For 2022, the standard Medicare Part B premium went up by more than $20 per month. For 2023, it’s actually going down a little. Finally, some good news!

Bipartisan Legislation Could Improve Medicare Advantage Prior Authorizations

In a rare unanimous vote, the House of Representatives has passed the “Improving Seniors’ Timely Access to Care Act.” As reported by Medical Economics, the proposed law will “make it easier for senior patients to get care and improve health outcomes by modernizing the ‘antiquated’ prior authorization process” for the 28 million seniors currently enrolled in a Medicare Advantage plan.

Sharing Important News with your Medicare Clients

You’ve heard this advice from AHCP before: communicate with your clients regularly to provide additional value, stay top-of-mind, and stand out in the crowd of agents vying for your clients’ attention. This will help increase retention and will likely lead to additional referral business. But that’s easier said than done, mainly because many agents don’t know what they should be communicating. Most people don’t want to talk or read about health insurance all year long, so what can we tell our Medicare clients that they’ll actually want to hear?

Mental Health and Medicare

After more than two years of COVID-19, mental health is understandably a big topic of discussion. People across the country have struggled with isolation, disruptions to their normal routines, the worry about getting sick, and the loss of loved ones. This has definitely taken a toll.

Medicare Part B Premiums Could Actually Go Down in 2023

A universal truth is something that is widely accepted and agreed on as fact, something that does not change over time and location. For instance:

Appealing an Income-Related Medicare Adjustment

If you sell Medicare supplements or Medicare Advantage plans, you probably know that the standard Medicare Part B premium for 2022 is $170.10.

New Requirement: Agents Must Record MA and Part D Calls

On April 29, the Centers for Medicare and Medicaid Services (CMS) published a final rule and accompanying fact sheet relating to calendar year 2023 Medicare Advantage and Part D plans.

Three Medicare Resources to Share with Clients

Agents who sell Medicare-related products like Medicare Advantage or Medicare Part D plans know that they need to be careful about creating their own marketing material. Medicare has very strict guidelines, and most information that agents put in front of clients needs to be pre-approved.

Like Everything Else, Drug Prices Are Increasing

You’ve probably well aware that inflation is the highest it’s been in decades. Some say this was to be expected since we’re coming out of a two-year pandemic. Others point to supply chain issues caused, in part, by Russia’s attack on Ukraine. Others blame the Biden administration’s economic policy. Still others point out the record profits that companies are making and say the price increases are driven by nothing more than corporate profits. Who knows – it could be a combination of all these factors.

Open Enrollment – You’re Not Done Yet!

We just wanted to check in and see how everyone’s doing. From the feedback we’ve received, it sounds like many of you have had a very successful open enrollment period. And the numbers we’ve seen from the individual and Medicare products we offer seem to confirm that.

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