Newswise — Admittedly, health insurance isn’t a topic most people like to talk about.
In fact, many are afraid to have to think about it.
But there’s actually good health insurance news for many this fall. and wallet.
Read on for more details below.
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Reduce monthly costs
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more free preventive services
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More plans to choose from
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A chance to cover a family for less money, and
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The more income you make, the longer it will take to transition off Medicaid.
“Health insurance decisions can be complicated to navigate, especially if you don’t work for a big company, but the decisions you make now will affect everything for the next year, so take a little time and focus. is important,” says Renuka. Tipirneni, MD, MS is a healthcare researcher at the University of Michigan Institute for Health Care Policy and Innovation and a primary care physician at Michigan Medicine, an academic medical center at UM. “You can often find free and reliable guidance from specially trained people. I often encourage my patients to seek this independent advice.”
Some of that guidance is provided by Michigan Medicine’s team of patient financial advisors, led by Alena Hill. For over a decade, they’ve specialized in helping people choose the plan that’s right for them.
“The biggest news is that many people who buy their own insurance may be able to find next year’s plan that costs less than this year’s plan,” Hill said. It’s also important that people who enrolled in Medicaid in 2020 are ready to act to avoid gaps in coverage.”
Where can I get help with health insurance
Important registration deadline
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December 7th: For people who are eligible for Medicare because they are 65 or older or have certain disabilities.
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December 15th: For people who want to purchase their own insurance through health.gov (or state-level websites in states that offer it) and start coverage on January 1st.
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January 15th: For those who purchase their own insurance who want coverage from February 1st.
Whether you work for a company that provides health insurance or face high costs to cover your family on your company plan, you can still get insurance at healthcare.gov if you act by these deadlines. There is a nature. refer to the following.
Medicaid does not have an enrollment deadline. However, if you currently have Medicaid, it’s important to know that in 2023, you may have a deadline to prove you’re low-income enough to continue your Medicaid plan. See below for details.
And now for the good news:
Good news 1: Lower monthly costs for many
Inflation has increased the price of many things Americans buy this year. Also, the monthly cost of getting insurance through work could rise in 2023.
But millions of people with other types of insurance will actually pay less each month in 2023.
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People covered by traditional Medicare get slightly less monthly costs and deductibles (out-of-pocket payments) for hospital-based care and other things covered by Part B. An expensive but not very effective Alzheimer’s drug that was originally budgeted for.
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Those who choose a Medicare Advantage plan offered by their health insurance company also have a slightly lower average cost.
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People with diabetes and any type of Medicare who need insulin to control their blood sugar will no longer be paying $35 or more a month for insulin. Previously, these costs could be much higher. The $35 cap will go into effect on January 1, 2023 for regular insulin and July 1, 2023 for the type used in insulin pumps.
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Help more people buy their own insurance on health.gov and help them pay their premiums. This means your final out-of-pocket costs will be lower.
Also, if your employment-related insurance makes large claims to cover your spouse or children, see below. Good news item 4 under. You may save.
You may have also heard of other Medicare changes that reduce prescription drug costs. These he will not come into force in 2023, but will come into force after 2024.
Good news 2: Expanding preventive healthcare to everyone
Most health insurance plans are required to cover certain preventive health services for certain people without charging the patient anything.
These free services include certain age- and health-based screenings, scans and vaccinations.
The list of services and the types of people who can use them for free will grow in 2023. Click these links to see our new list of adult, women-only, and children’s services.
Some of the new coverage:
Some of these provisions are called ‘value-based insurance design’ because they set the cost to a person based on the value they get based on their health status, and research done at UM has actually informed them. provided.
Good news #3: More plans to choose from
A growing number of health insurance companies offer Medicare Advantage plans and plans available to individuals and families on the health.gov website.
So even if you’re happy with last year’s plans, it’s important to shop around during the open registration period.
If you have a Medicare Advantage plan or purchased insurance through healthcare.gov, it will probably renew automatically if you do nothing by the December deadline.
But even if you’re happy with it, you should take the time to consider all your options. You may find something even better.
Good news 4: A cheaper way to cover your family
If you get health insurance through your job, but it’s too expensive to cover your spouse and children up to 26 with a job-provided plan, there’s good news for 2023.
Changes made this year now allow you to be eligible for insurance through healthcare.gov to cover your next of kin in need of coverage. (Previously, this was not possible due to the “family malfunction” law.)
The new rule only applies if the cost of covering yourself and your family with employment-related insurance is more than 9% of your income.
Therefore, to check if you are eligible, you will need to do some calculations with the help of a trained helper like the one above.
Good news 5: More income means more time to transition off Medicaid
Back in the early days of the pandemic, when many people lost their jobs or had their work hours cut, millions of people across the country have benefited from state-based Medicaid, which targets low-income earners. I turned to the safety net insurance option.
It’s been two years since the state required Medicaid participants to prove that they still don’t have enough income to maintain their coverage because of the pandemic. Some people keep their Medicaid coverage even when they come back beyond.
This special situation will last until at least January 2023, as long as the federal government’s pandemic “public health emergency” rules apply. But as soon as the special rules are lifted, states will have to begin the process of asking people to prove their current income. If you’re under your limit, you can stay on your Medicaid plan, but if you’re above that, you’ll need to get healthcare.gov coverage or go uninsured.
No one knows yet when this change will occur. But before you do, make sure your state’s Medicaid agency contact information is current if you have Medicaid. When an important email arrives, you don’t want to miss it.
In Michigan, log in to MI Bridges to update your information or call your local MDHHS office for assistance. If you receive mail from your state or Medicaid plan, be sure to open it, fill it out, and return it promptly.
Use the calculator on this page to find out if you’re eligible for Medicaid in your state in 2023 or if you need to transition to an insurance plan purchased at health.gov. Until January 15th, you can choose a plan at healthcare.gov and get covered starting February 1st.
