Zero-premium Medicare Advantage plans 2023 Opens Next Week

The annual open enrollment period for private Medicare Advantage plans begins next week, and zero-premium alternatives are likely to be more popular with Americans feeling the sting of inflation.

People aged 65 and older, or younger  with certain disabilities, who qualify government guidlines can apply for 2023 coverage starting Oct. 15 through Dec. 7.

Not all plans are the same, and experts advise shoppers to conduct their research to ensure they are receiving optimal coverage, even if no premium is charged.

Medicare Advantage plans are comparable to traditional government-run plans in that patients must visit health care providers or pharmacies inside a network.

Individuals enrolled in private insurance will still be required to pay the monthly cost of Medicare Part B to support doctor visits.

That fee will be $164.90 each month in the coming year, and it is normally withheld from Social Security checks.

Brenner suggests that when comparing plans, customers look at the networks, co-pay prices, and annual out-of-pocket maximums rather than just looking at the premium pricing.

No-premium plans can be great for healthy individuals who don't need many medical services, but plans with less coverage might increase out-of-pocket expenditures for those who aren't.

Experts recommend that customers compare plans early and not wait until early December to signup since there is a rush and latecomers might be locked out.