The standard monthly Medicare Part B premium will be $164.90 in 2023, a reduction from $170.10 in 2022. Individuals and married couples with higher earnings, defined by Medicare as adjusted gross income of $97,000 single/$194,000 married for tax year 2021, may be subject to higher Part B and Part D premiums. BPLC has a chart of [...]

In 2023, individuals who qualify for full Extra Help (also known as the Low-Income Subsidy Program, LIS) can enroll in a standard Part D plan with a monthly premium of up to $38.90. Individuals with Medicaid and/or a Medicare Savings Program (MSP) are automatically enrolled in Extra Help. Individuals can also apply for Extra Help with [...]

Each year, from October 15 – December 7, individuals with Medicare can make changes to their Medicare coverage. Plan changes take effect on January 1.Changes can include:Switching from one Part D plan to another Part D plan (for those with Original Medicare) • Switching from one Medicare Advantage plan to another Medicare Advantage plan • Switching [...]

The Inflation Reduction Act, signed into law on August 16, 2022, contains many healthcare provisions, some of which will take effect in the beginning of 2023:The enhanced subsidies for purchasing a Qualified Health Plan, put in place by the American Rescue Plan Act (ARPA) of 2021, will continue for an additional three years, through 2025. Meaning [...]