Medicare Open Enrollment Starts October 15th. Here’s What You Need to Know.

The Medicare Annual Enrollment Period, also known as open enrollment, begins October 15th and ends December 7th. This window allows those enrolled in Medicare to reevaluate and make changes to their coverage. This applies to enrollees of Original Medicare, Medicare Part C (Medicare Advantage), and Part D prescription drug plans.

If you’re enrolled in any of these plans, you can make changes to the plan in several ways for the upcoming year. This includes:

  • Switching from one Medicare Advantage plan to another
  • Switching from Medicare Advantage to Original Medicare
  • Enrolling in a Medicare Advantage plan for the first time
  • Enrolling in a Medicare Part D plan
  • Dropping Medicare Part D
  • Changing from one Medicare Part D plan to another

Is Your Medicare Plan Right for You?

Now is the time to reassess your coverage and ensure it meets your needs. For example, if you are dissatisfied with an increasing monthly premium, need more coverage, or are unhappy with co-pays at the doctor, it may benefit you to change or leave your Medicare Advantage Plan. Likewise, if your medications moved to a different tier, or you face an increasing annual deductible, you may change your Medicare Part D coverage during open enrollment.

Medicare Costs

Currently, under Original Medicare, the Medicare Part B premium costs $170.10 per month (unless the beneficiary’s annual income is over $91,000 single or $182,000 as a married couple). There is also a $233 per year deductible to utilize Part B services. Part D premiums and deductibles, however, vary by plan.

In addition, the Hospital Part A deductible is $1,556 per illness spell, and skilled nursing facility co-insurance is $194 per day for days 21 through 100.

Keep in mind if you have dual eligibility with Oregon Medicaid your actual out of pocket costs could be smaller.

While these costs are subject to change each year due to cost of living adjustments, the Elder Law Section of the Oregon State Bar Association keeps an up to date list of current Medicare and Medicaid premiums.

Social Security By The Numbers

SSI Benefit Standards
Eligibile Individual
$841a month
Eligibile Couple
$1,261a month
Medicaid (Oregon)
Asset limit for Medicaid recipient
Burial account limit
Long Term Care Income Cap
$2,523a month
Community Spouse Minimum Resource Standard
Community Spouse Maximum Resource Standard
Community Spouse Minimum Monthly Allowance Standard
$2,288.75a month
Community Spouse Maximum Monthly Allowance
$3,435a month
Excess Shelter Allowance
amount above$686.53a month
SNAP Utility Allowance Used to Figure Excess Shelter Allowance
$452a month
Personal needs allowance in nursing homeNote: for some veterans, the personal needs allowance is $90/month
$68.77a month
Personal needs allowance in community-based care
$187a month
Room & board rate for waivered community-based care facilities
OSIP Maintenance Standard for person receiving in-home servicesSSI only: $863/month
$1,341a month
Average Private Pay Rate for Calculating Ineligibility for Transfer of Assets at less than Fair Market Value after October 1, 2020
$9,551a month
Home equity limit for an individual
Hospital Part A deductible per illness spell
Skilled nursing facility co-insurance for days 21-100
$194.50a day
Part B Premiumis higher if annual income is more than $91,000 single or $182,000 married couple
$170.10a month
Home equity limit for an individual
Part D Premium

We’re Here to Help During Medicare Open Enrollment Period 2022

If you are enrolled in Original Medicare, Medicare Advantage, or Medicare Part D, you will be able to make changes to your plan during this time. Make sure you’re making the right choice for 2023 and consult with our skilled Social Security Disability attorneys at Kerr, Robichaux & Carroll. We want you to get the most out of your Medicare Coverage, which is why we’re here to assist you during the Medicare Open Enrollment Period and secure the coverage you need.

Contact us by filling out and submitting the form below or call our office at 503-255-9092 for a free consultation.

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