Open enrollment for Medicare and Medicaid is underway, and recipients must take proactive steps to maintain their range and explore potential cost-saving opportunities.
Secretary of Health and Human Services Xavier Becerra highlights the importance of Medicaid recipients taking action during the open enrollment period.
During the pandemic, many people were automatically re-enrolled in Medicaid, but now, even those who still qualify must re-enroll to continue receiving benefits.
Becerra emphasized the need for awareness, stating, “Many folks aren’t realizing they have to reapply. We don’t want them to lose their insurance under Medicaid if they still qualify.”
Failing to renew eligibility may result in losing Medicaid coverage, potentially leaving individuals without essential healthcare.
For those who discover they no longer qualify for Medicaid, Becerra assured that they might be eligible for a low-cost Affordable Care Act (ACA) plan. These ACA plans offer affordability and accessibility, with some individuals paying no more than $10 monthly in premiums.
Medicare Recipients: Evaluate Your Options
Existing Medicare recipients will be automatically re-enrolled during open enrollment. However, this does not mean they should be complacent.
Dr. Meena Seshamani, the director of the Center for Medicare, stressed the importance of comparing plans on medicare.gov. Failing to do so could lead to missed opportunities for saving money and securing better healthcare options.
In particular, recently passed laws have brought forth additional savings for seniors through Medicare prescription plans.
Beginning January 1, 2024, individuals with high-cost drugs when they reach the high-cost phase, will no longer be required to pay anything out of pocket.
This significant change can lead to substantial savings for Medicare beneficiaries and make necessary medications more accessible.