Here are some changes people can expect to see during this year’s Medicare’s open enrollment, which begins October 15:
- WJLA-TV is reporting that according to the CBO, Medicare Advantage (MA) plans will experience “$160 billion worth of cuts by 2022,” because Federal subsidies for the MA program “are being displaced to pay for the Affordable Care Act.” The change will affect the 16 million people enrolled in MA plans, who will “either be paying higher premiums or paying premiums for the first time.”
- The amount of Part D standalone prescription drug plans (PDPs) will drop by 14%, to just 1001 plans, the smallest number of offerings since the Medicare Part D program began in 2006.
- As far as Medicare Advantage is concerned, in 2015, the number of plans will drop by 3 percent, to 2,450, continuing a gradual decline.
