The Annual Enrollment Period is over on December 7th! If you have not yet evaluated your prescription drug plan for 2021, call in today to review your options at 800-750-2407. If you have already signed up for a new drug plan, it will begin January 1st of 2021.
What changes to your Medicare coverage should you expect starting January 1st of 2021?
- Part A Deductible will increase from $1,408 in 2020 to $1,484 in 2021. Please note the Part A Deductible is automatically covered by most Medicare Supplement plans such as Plan F, G, & N.
- Part B Deductible will increase from $198 in 2020 to $203 in 2021.
- Part B Premium started at $144.60 in 2020 will increase to $148.50 in 2021. See more details below!
The 2021 Part B monthly premium is based on an individual’s yearly income from 2019 as noted in the following table:
What other exciting changes are coming to Medicare?
- COVID vaccines, antibody treatments, and tests are covered at no cost to the beneficiary. Hospital stays are covered as usual, so if you have Plans F, G, or N it will cost $0.
- The Part D Senior Savings Model officially begins January 1st of 20201! This program limits the insulin copays to $35 with specific Part D plans. This program is not available to those receiving Extra Help or Low Income Subsidy benefits.
- You can now pay for Part A, Part B, and Part D IRMAA (Income-Related Monthly Adjustment Amount) can now be paid via your MyMedicare.gov portal using a debit card, credit card, or an electronic draft from your bank account. Note that repeating payments can NOT be set up.
- Via your MyMedicare.gov portal, you can now add Authorized Representatives to your account. An Authorized Representative is a person you choose to help you with Medicare-related matters such as a spouse, child, family member, or close friend for example.
- Beginning in 2020, Medicare Part B now covers up to 12 sessions of acupuncture treatment for those with chronic lower back pain. Please note there are some restrictions, so make sure you speak with your provider to ensure you will receive coverage!
- Prior authorization for certain hospital outpatient procedures is now required for items including but not limited to blepharoplasty, botulinum toxin injections, panniculectomy, rhinoplasty, and vein ablation. Note that these same services if completed in a doctor’s office do not require prior authorization.
- Temporary changes that were made to increase access to Telehealth Benefits during the COVID pandemic are in the works to be made permanent.
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