Changes in Medicare in 2023 and How it Affects Seniors in Hawaii

The Medicare program has helped people all around the country to take better care of their medical finances. It allows seniors to access the best medical benefits without spending their life savings. Medicare has brought about several significant changes in 2023 for seniors. Knowing about these changes and how they affect your policy and premium is crucial to get the best out of your Medicare. Moreover, complete knowledge protects you from Medicare fraud and abuse. Hawaii State Health Insurance Assistance Program encourages older adults to keep track of their insurance program consistently.

It is often difficult to find authentic information about Medicare online. And to solve the issue, we decided to conduct thorough research and bring you the changes

Medicare incorporated in 2023.

Medicare Plans in Hawaii

Original Medicare Plan

This part consists of two parts: Part A deals with hospital insurance such as home health, hospice, hospital, nursing care etc., while Part B deals with medical insurance like doctor’s visits, diagnostic testing, emergency care, outpatient services, medical supplies etc.

Medicare Advantage

Private insurers sell Medicare Advantage, which is an alternative to the basic or original Medicare. There are several plans, and you can choose your fit according to your needs. Some plans have coverages like gym memberships, transportation to medical appointments, etc.

Medigap

It is a standardized plan that private insurance companies sell.

Medicare Part D

Prescription drug coverage acts as an addition to your Medical plan. These plans are offered by private companies but follow Medicare regulations.

Once you wrap your head around these basic plans, it becomes easier to understand the changes. If you are still foggy, you can take help from a volunteer at the Senior

Health Insurance Assistance Program to understand better.

Medicare Changes in 2023

Part A Costs Have Increased

People who pay a premium for their hospital insurance will now have to pay $506 monthly instead of $499. The deductible has also shot up to $1600 for each benefit period, which was previously set at $1556.

For a period of 61 to 90 in a hospital, one has to pay $400 daily (previously $389) per benefit period. Similarly, for 21 days to 100 days, one pays $200 daily (previously $194.50) in a nursing facility.

Similar Link: More Free Vaccines covered by Medicare Part D! (Resource: Hawaii Ship)

Part B Costs Reduced

The Part B standard premium has come down to $164.90 per month from the previous $170.10. The deductible has also been reduced by $7.

Curb on Insulin Costs

Insulin costs have now been limited to $35 per month. If you have paid over this amount in the initial months, it’s probably because the changes took some time to settle in the system.

Decrease in Medicare Advantage

Medicare Advantage premiums have taken a dip in 2023 by 18.2%.

The specifications can be a little too much to grasp at a time. But it is essential you understand the changes to gauge your premiums and advantages. You can opt for medical counseling services to understand these terms better. Such services are made available by SHIP. They also help you choose the right plans and assist you in several other aspects of medical insurance.

Hawaii SHIP

If you are wondering what is Hawaii SHIP, let us tell you it is your best friend in matters of Medicare. SHIP Hawaii is a health insurance assistance program that helps Hawaiian citizens deal with any problem related to their Medicare. It’s a non-profit program that ensures everybody gets the best services. Good Samaritans offer voluntary services to help people in their Medicare journey. They offer the best counsel and enlighten you about anything you would like to clarify about your insurance. Besides that, they also prevent Medicare scams and spread awareness among people.

Medicare keeps changing its policies and premium from time to time. Knowing these recent changes will help you in keeping track of your medical bills and insurance. Make sure you keep yourself updated about such revisions in the future as well. To make the Medicare process easier, you can always seek help from Hawaii SHIP. Their services extend to all people throughout the state.