The federal government of the United States of America has introduced some changes to the federal insurance policy and also to private insurance policies. Here are some of the alterations made to the policies that you should know about.
Extended access to Extra Help
The Extra Help program has always been helpful to elderly people with low incomes to pay for the costs of prescription drugs. Only those single adults who are getting less than USD 21,000 and resources that are valued at less than USD 16,660 are eligible to sign up for this program. Resources, retirement, and bank accounts are implied. However, neither is your home, nor your personal items, furniture, burial plots, a single car, and burial plot included in this. Presently, there are two tiers to the Extra Help program. In 2024, there has, however, been a slight change in it. In case you are eligible for the partial Extra Help program, you will qualify automatically for the complete Extra Help program, which is a part of the Medicare Advantage plans 2024.
No copays on drugs covered by Part D
In case your out of pocket expenses have gone up to USD 8,000 this year, you would not need to copay for any of the drugs that have been prescribed by your doctor for the remaining half of the year. Even if you have received the USD 8,000 from some other sources of help, such as the Extra Help program, it will be considered a part of the USD 8,000. In case your out-of-pocket expenses go beyond USD 7,400 in the present year, you have to pay only 5% of the prescription drugs that have been covered by Part D.
Extended coverage for mental health care
Your private insurance policy will cover the mental health care services that have been rendered to you by nurse practitioners, social workers, clinical psychologists, psychiatrists, clinical nurse specialists, and physician assistants. Soon, it will also include the services rendered by mental health counselors and family therapists. Even the intensive outpatient programs that are being rendered by community health care centers, hospitals, rural health clinics, federally qualified health centers, and partial hospitalization will also be covered.
Choices in terms of joining schemes
You will be able to rejoin your health insurance policy program if you have experienced circumstances that are exceptional, such as incarceration, natural disasters, an error in your health scheme, are about to lose your medical coverage, or any other exigency from 2024 onward. During the special enrollment period, you will get exactly 60 days in order to sign up for a private health insurance policy. The moment you request to join the private insurance policy, you will notice that the coverage begins on the first day of the month post your enrolment in the scheme. In case you have any questions, concerns, or comments regarding your insurance policy, you should get in touch with your insurer. However, if you are a private insurance holder, you would need to contact the company that is providing you with the policy and the coverage.