MEDICARE OPEN ENROLLMENT is HERE!

You have till December 7th to review and make any changes to your MEDICARE PLAN.

I have talked to many people that have received a large increase in the annual MAXIMUM OUT OF POCKET (MOOP) that their plan covers.

If you have not had a review of your plan in a while, I highly recommend you do so!

2021 Medicare changes: Key takeaways

• The standard Part B premium increase for 2021 has been limited by a federal spending bill.

• The Part B deductible will likely increase above the current $198 and will be a little higher in 2021.

• Part A premiums, deductible, and coinsurance will also be higher in 2021.

• Medigap Plans C and F are no longer available for purchase by newly eligible Medicare beneficiaries.

• The income brackets for high-income premium adjustments for Medicare Part B and D are projected to start at $88,000 for a single person, and the high-income surcharges for Part D and Part B will increase in 2021.

• Medicare Advantage enrollment is expected to continue to increase to a projected 26 million.

• Medicare Advantage plans are available for people with ESRD as of 2021.

• The maximum out-of-pocket limit for Medicare Advantage plans is increasing to $7,550 for 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-ofpocket spending decreases significantly) is increasing to $6,550.

NEVER a FEE to talk to ME! We can review and even enroll virtually for your safety.