Every January, Medicare resets deductibles, coinsurance, and plan benefits. While Original Medicare has standardized costs set by the Centers for Medicare & Medicaid Services (CMS), Medicare Advantage and Part D prescription drug plans may adjust their copays, formularies, and provider tiers. These changes can affect doctor visits, prescriptions, and diagnostic services. Reviewing updates early helps retirees avoid surprises when the new year begins. Here are six things you should be aware of moving into the new year.
