Ushering in this year’s enrollment period, the Biden-Harris Administration announced their continued efforts to lower costs and expand access to healthcare. According to CMS, it will be the most competitively priced marketplace in history. Consumers can visit HealthCare.gov to view coverage options and find the best plan for their needs until December 7, 2022, when the marketplace will close.
Some of the top changes consumers can expect in their 2023 coverage include:
- Individuals will now receive Medicare coverage the month following their enrollment, reducing previous delays in coverage.
- Average premiums for Medicare Part B, Medicare Advantage, and Medicare Part D prescription drug plans will be lowered in 2023.
- Those on Medicare who take insulin will pay no more than $35 for a monthly supply of the prescription drug beginning in 2023.
- Individuals with Medicare drug coverage will have no out-of-pocket costs for vaccines recommended by the Advisory Committee on Immunization Practices (ACIP).
- An effect of the Inflation Reduction Act, thirteen million Americans will save an average of $800 per year on their health insurance.
- Families who were not previously eligible for tax credits may now be able to receive financial assistance according to new rules.
Providers can benefit from sharing this information with their patients. Adequate coverage and clear direction on insurance use helps providers receive the reimbursements they need to support their offices. Additionally, clinics need a strong medical billing team to streamline their revenue cycle. Medicare can complicate the billing process, so you need a team that stays updated on regulations and standards. As a leader in outsourced medical billing, Outsource Receivables Inc. will help your clinic increase cash flow and streamline processes. Give us a call if you’d like to learn more.