September 28, 2020
Medicare Open Enrollment begins on October 15, 2020, and ends on December 7, 2020. During this time, Medicare beneficiaries can compare coverage options like Original Medicare and Medicare Advantage and choose health and drug plans for 2021. Medicare health and drug plan costs and covered benefits can change from year to year, so people with Medicare should look at their coverage choices and decide on the options that best meet their health needs.
Ahead of the annual Medicare Open Enrollment, the Centers for Medicare & Medicaid Services (CMS), announced that average 2021 premiums for Medicare Advantage plans are expected to decline 34.2 percent from 2017 while plan choice, benefits, and enrollment continue to increase. The Medicare Advantage average monthly premium will be the lowest in 14 years (since 2007) for the over 26 million Medicare beneficiaries projected to enroll in a Medicare Advantage plan for 2021. Additionally, for the first time, seniors who use insulin will have over 1,600 Medicare Advantage and Part D prescription drug plans to choose from that will offer insulin at no more than a $35 monthly copay beginning in January. (Source: Centers for Medicare & Medicaid)
If you would like help navigating this process, contact the Ohio Senior Health Insurance Information Program (OSHIIP). OSHIIP’s Medicare Virtual Counseling link is live. Beneficiaries can schedule a one-on-one virtual meeting with one of OSHIIP’s Medicare experts.
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