Fitness and Medicare Advantage: 2024 Trends in Health-Related Benefits
Medicare Advantage Plans (also known as Medicare Part C) provide comprehensive coverage for Medicare beneficiaries. These plans are offered by private insurance companies contracted with Medicare and offer slightly different benefits than the traditional Medicare program. The Medicare Advantage Plans of 2024 will see changes in their coverage, so it’s important to stay up-to-date on what’s new.
In this article, we’ll take a look at some of the changes coming to Medicare Advantage plans 2024 . We’ll explore new benefits, changes to existing benefits, and the impact of these changes on Medicare beneficiaries.
Expanded Telehealth Services: Telehealth services have been more in demand during the pandemic, and Medicare Advantage Plans in 2024 will provide expanded telehealth services. Beneficiaries will be able to access telehealth services for more medical conditions, and plans will have to cover the cost of telehealth services. This is a big advantage for those living in remote areas or with mobility issues.
Changes in Prescription Drug Coverage: Medicare Advantage Plans will see changes in prescription drug coverage in 2024. The 2024 plan year will see the full implementation of the Part D Senior Savings Model. This model will reduce beneficiary out-of-pocket costs for insulin and other select medications to a maximum of $35. Plans also have the option to offer zero-dollar copays for some generic drugs. Additionally, some plans will now have the option to offer coverage for over-the-counter medications.
Health-Related Services: Medicare Advantage Plans of 2024 will include new benefits aimed at improving health outcomes. Some plans will now offer benefits such as peer-to-peer counseling for mental health, nutrition counseling, and transportation to and from medical appointments. These benefits are meant to address social determinants of health that can have an impact on health outcomes.
Plan Consolidation: The Centers for Medicare & Medicaid Services (CMS) recently announced changes to plan consolidation for Medicare Advantage Plans. Starting in 2024, CMS will allow Medicare Advantage Plans to consolidate to serve larger geographic areas. This change may allow for more plan choices in some areas, but it could also lead to fewer plan options in other areas.
Potential Cost Savings: For those who choose to enroll in Medicare Advantage Plans, there’s the potential for cost savings. Premiums for Medicare Advantage plans vary depending on the plan, but in some cases, beneficiaries may pay less than they would for traditional Medicare, especially if they take advantage of the plan’s additional benefits, such as dental, vision, and hearing coverage. However, it’s important to compare plan costs to ensure that the potential cost savings outweigh any changes in benefits.
Conclusion:
In conclusion, Medicare Advantage Plans of 2024 will see changes in coverage, benefits, and plan consolidation. These changes all have the potential to impact Medicare beneficiaries in different ways, so it’s important to be aware of what’s new. Expanded telehealth services, changes in prescription drug coverage, and new health-related services all offer advantages to those enrolled in Medicare Advantage Plans. Additionally, the potential cost savings of these plans make them an appealing option for many. As always, it’s important to compare plan options and costs to ensure that a Medicare Advantage Plan is the best choice for you.
