What’s new this annual Election Period

The Annual Election Period is almost here! Remember, you can preview plans now, and make any changes starting October 15.

Trying to decide whether to stay on your current prescription drug plan or choose a new plan for next year? Even if you’re happy with your current plan, it’s important to check for any changes next year, and compare with other available plan options. You may even find plans that save you money!

New for people with Medicare taking insulin: Starting January 1, 2023, plans can’t charge you more than $35 for a one-month supply of each Medicare Part D-covered insulin you take, and can’t charge you a deductible for insulin. If you get a 60- or 90-day supply of insulin, your costs can’t be more than $35 for each month’s supply of each covered insulin. Learn more about the changes to insulin costs.

Things to know

Part D covers these:

  • Injectable insulin that isn’t used with a traditional insulin pump
  • Insulin used with a disposable insulin pump
  • Certain medical supplies used to inject insulin, like syringes, gauze, and alcohol swabs

If you use an external insulin pump that is not disposable, Part B may cover insulin used with the pump and cover the pump itself as durable medical equipment. If you live in certain areas of the country, you may have to use specific insulin pump suppliers for Medicare to pay for a durable insulin pump.

Medicare Part B (Medical Insurance)

doesn’t cover these:

  • Insulin (unless use of an insulin pump is
    medically necessary
  • Insulin pens
  • Syringes
  • Needles
  • Alcohol swabs
  • Gauze

By Joe DeAngelis

Medicare Supplement Adviser Annual election period

Medicare Supplement Advisory services