CMS: Trump Administration Announces Historically Low Premiums and New Insulin Benefit as Medicare Open Enrollment Begins
Today, the
With Medicare Advantage (or private Medicare health plans) and Part D prescription drug plan premiums at historic lows - and hundreds of healthcare plans now offering
"I hope everyone with Medicare takes time over the next few weeks to review their health and drug coverage for next year," said CMS Administrator
During Open Enrollment, Medicare beneficiaries can compare coverage options like Original Medicare and Medicare Advantage, and choose health and prescription drug plans for 2021. Medicare health and drug plan costs and covered benefits can change from year-to-year. CMS urges Medicare beneficiaries to review their coverage choices and decide on the options that best meet their health needs. Over the past three years, CMS has made it easier for seniors to compare and enroll in Medicare coverage. The redesigned Medicare Plan Finder makes it easier for beneficiaries to:
* Compare pricing between Original Medicare, Medicare prescription drug plans, Medicare Advantage plans, and
* Compare coverage options on their smartphones and tablets;
* Compare up to three drug plans or three Medicare Advantage plans side-by-side;
* Get plan costs and benefits, including which Medicare Advantage plans offer extra benefits;
* Build a personal drug list and find Medicare Part D prescription drug coverage that best meets their needs.
Highlights for 2021 Open Enrollment include:
* A 34 percent decrease in average monthly premiums for Medicare Advantage plans since 2017. This is the lowest average monthly premium since 2007. Beneficiaries in some states, including
* Medicare beneficiaries can join a prescription drug plan that will offer many types of insulin at a maximum copayment of
* Free, personalized counseling on Medicare options is also available through the nonprofit
Finally, CMS urges people with Medicare to practice safety measures to guard against identity theft during open enrollment. Beneficiaries should not give their Medicare card or Medicare number to anyone except their doctor or people they know should have it. CMS removed
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