By Katelyn Gierer
Wondering what the new year brings to your Medicare plan? We at Senior Health Solutions have outlined some important changes for you to consider when looking at your current plan. Have questions on whether or not the list below applies to you? Call us today at (888)710-0233.
Medicare Part A:
Most of the time, there is no premium payment for Medicare Part A. People with this plan can expect to see no changes to this in 2021.
Medicare Part B:
While there are cost rises every year in Medicare, plan holders can see a lower cost rise than in recent years in their Medicare Part B premiums. If you have Medicare Part B, you will see that the base cost is $148.50 if you make less than $88,000 a year. The deductible didn’t see that much of a rise either with only $5 added on to the monthly payments.
Medicare Part C:
One important change in Medicare Part C is for people with End Stage Renal Disease (ESRD). People with ESRD are now able to enroll in more Medicare Advantage plans than ever.
Medicare Part D:
The deductible for Medicare Part D has increased from $435 to $445, but while the prices are rising there is still some good news. The Affordable Care Act has closed the “donut hole” on prescription drugs. This means you pay 25 percent until you meet the catastrophic coverage hold.
Medicare Advantage Out-of-Pocket:
The maximum out-of-pocket cost has increased from $6,700 to $7,550 and it still does not include prescription drugs which are included in Part D plans. This is a significant increase compared to previous years.
Unsure if any of this applies to your current plan? That’s what we’re here for! Don’t hesitate to speak with an agent about your current plan or enrolling during enrollment period. Call us at (888)710-0233 today to learn more about different Medicare plans.
