ANNAPOLIS, MD—With Medicare Open Enrollment in full swing, Governor Larry Hogan and Maryland Department of Aging Secretary Rona E. Kramer are reminding Marylanders that lower premiums are available for Medicare Advantage and Medicare Part D prescription drug plans. In addition, beneficiaries can now compare 2023 Medicare health and drug coverage premiums and deductibles using the recently updated Medicare Plan Finder on Medicare.gov or by calling 1-800-MEDICARE.
“Medicare plays a key role in providing health and financial security to many residents across the state who utilize the program,” said Governor Hogan. “We want to continue to ensure that every Marylander has access to affordable care and, ultimately, a better quality of life.”
More than 1 million Marylanders are enrolled in Medicare. The projected average premium for 2023 Medicare Advantage plans is $18 per month, a decline of nearly 8% from the 2022 average premium of $19.52. Medicare Advantage plans will continue to offer a wide range of supplemental benefits in 2023, including eyewear, hearing aids, preventive and comprehensive dental benefits, access to meals (for a limited duration), over-the-counter items, and fitness benefits. The average monthly premium for standard Part D coverage—which helps pay for brand-name and generic prescription drugs—is projected to be $31.50, compared to $32.08 in 2022.
“With the new Plan Finder, anyone can review their current plan and compare it to 2023 options, allowing them to enroll in the best plan to meet their needs,” said Secretary Kramer. “It’s important that beneficiaries enroll before the December 7 deadline as we know that active, preventative health care can lead to healthy living and increased longevity.”
Medicare Open Enrollment began on October 15 and will run through December 7, 2022. Low-income seniors may qualify to receive financial assistance from the Medicare Savings Program, which can help pay for Medicare premiums and deductibles, coinsurance, and copayments if people meet the eligibility conditions. Maryland residents with difficulty comparing plans or determining whether they qualify for financial assistance can receive free, unbiased, and reliable information through the State Health Insurance Assistance Program (SHIP). To find a SHIP counselor, go to aging.maryland.gov.
For more information on Open Enrollment, Medicare Savings Programs, or the Medicare Plan Finder, visit https://www.medicare.gov or call 1-800-MEDICARE, which is available 24 hours a day, seven days a week in English and Spanish as well as language support in more than 200 languages. People who want to keep their current Medicare coverage do not need to re-enroll.