Medicare Open Enrollment

There is still time for all Medicare Part D participants to evaluate their Part D plans for 2023. It is very important every year the Part D plans are reviewed and compared before the December 7 deadline. Many plans change their benefits and costs. Also, many times the prescriptions people take change.

Again, this year the Senior Health Insurance Program (SHIP) Volunteers and Nebraska Extension have teamed up to provide free, unbiased counseling information and enrollment for people who are receiving Medicare. New premiums and deductibles for the 2023 Prescription Drug plans have been released. There are 24 plans offered in Nebraska in 2023 with premiums ranging from $4.70 to $113.60 per month. Plan deductibles will range from $0 to $505.00. Thirteen plans are exempting certain Tier levels from their deductible. Each plan covers different prescriptions, so the cheapest premium isn't the best for every person. The only way to know for sure is to use the medicare.gov website to do a personalized comparison. Once the information is personalized then a decision can be made based on individual needs and wants. To complete a personalized comparison a list of current medications complete with dose and frequency and a Medicare card are needed. The option of using your Medicare account for your personalized comparison, is available and is recommended for the best personalized review. If you don't have a Medicare account, it is very simple to set one up on the www.medicare.gov website.

The Insulin Savings Model (Senior Savings Model) is still available in 2022 for drug plans that choose to participate. The participating plans have agreed to charge NO MORE than $35 for 1 month of select insulins. They are not required to cover all insulins making it even more important to do a personalized comparison of plans.

The Inflation Reduction Act also limits the cost of a 1-month supply of insulin to $35. Plans do not have to cover all insulins but are required to cover one pen form and one vial form in all classifications of insulin. Again, making it very important review the plans to enroll in a participating plan that will cover the insulin brand that is needed.

It's important for everyone to take time to review and compare. Medicare and Nebraska SHIIP provide free, unbiased counseling. To get one-on-one help from the Nebraska State Health Insurance Information Program (SHIP). Call the SHIP toll-free hotline at 800-234-7119 to make an appointment in your area, visit www.medicare.gov to compare your current coverage with all of the available options in your area, and enroll in a new plan if you decide to make a change, or call 1-800-MEDICARE (1-800-633-4227) 24-hours a day/7 days a week to find out more about your coverage options. TTY users should call 877-486-2048.

For more information about reviewing Medicare Part D plans contact the Nebraska State Health Insurance Information Program at 800-234-7119.