It has been just revealed that there are some important changes coming to Medicare for 2024. Check them out below to stay up to day to everything that’s new.
New Medicare changes are coming
According to the latest reports, it looks like there are some pretty big changes are coming to Medicare in 2024.
It has been revealed the fact that there will be tax hikes for high earners but also expanded telehealth services. Long story short, America’s seniors should prepare for shifts in healthcare coverage and costs.
“The changes are “good news” for all beneficiaries regarding affordability and coverage, Pavani Rangachari, a professor of health care administration and public health and the director of the Master of Healthcare Administration program at the University of New Haven in Connecticut,” told The Epoch Times.
It is really important to mention the fact that there will be important premiums that are projected to remain stable. More than that, the new payment models will be aiming to enhance care quality.
2024 will turn out to be an important year that will test how well sweeping healthcare reforms serve the needs of an aging population.
As the online publication mentioned above notes, one of the most important changes that we will see will turn out to be the implementation of the Medicare tax increase. It is also important to note the fact that the tax hike applies only to individuals making over $400,000 per year. Lower earners will not see a change.
“The White House indicates the increase targets high-paid professionals and wealthy business owners who shield income by classifying it as neither earned nor investment income. Specifically, the tax rate will rise from 3.8 percent to 5 percent starting Jan. 1, 2024. The funds are intended to help extend the program’s solvency by at least 25 years.”
It has been also revealed the fact that another significant change is the expansion of Medicare Advantage (MA) plans. The number of MA enrollees is projected to increase by 47 percent in 2024 compared to 2023.
This program offers an alternative to traditional Medicare by providing extra benefits like vision, dental, and hearing coverage and this is amazing news for people.