This is a great question, and I strongly advise clients to review two great resources for the enrollment of Medicare. MedicareResources.org and Kaiser Family Foundation (KFF) have analyzed changes and offer that information. Medicare Resources.org lists more general changes while KFF gives some specifics. Below are a couple of changes on the horizon according to Medicare Resources.Org regarding Medicare options for 2021.
The standard Part B premium for 2021 has been limited by a federal spending bill. The Part B deductible will increase above the current $198. Part A premiums, deductible, and coinsurance will be higher in 2021.
Part D donut hole no longer exists, but a standard plan’s maximum deductible is increasing to $445 in 2021, and the threshold for entering the catastrophic coverage phase (where out-of-pocket spending decreases significantly) is increasing to $6,550.
According to KFF here are a few more changes:
Among the majority of Medicare Advantage plans that cover prescription drugs, 54 percent will charge no premium (although beneficiaries will have to pay the Medicare Part B premium), similar to 2020.
Medicare Advantage plans may offer supplemental benefits not available in traditional Medicare. Most plans have historically offered fitness, dental, vision, and hearing. For 2021 the vast majority are also offering telehealth (98%).
New for 2021, beneficiaries can enroll in a Part D plan offering coverage of insulin products at a $35 monthly copay, but premiums for these plans are on average close to twice as high as premiums for other Part D plans.