What You Need to Know about Medicare Part D Costs 2021

Many seniors rely on prescription drugs to stay healthy; eighty-nine percent of adults 65 and older report that they are currently taking at least one prescription medicine and more than half of adults 65 and older report that they are taking four or more prescription drugs. Most seniors have Medicare Part D plans to help pay for their prescription drug needs so price and offering changes to these plans from year to year are followed with interest.

The 2021 Medicare Annual Enrollment Period (AEP) began on October 15, 2020, and will end on December 7, 2020. This is the time that Medicare beneficiaries have to review their current plan(s) – and the changes coming to them, compare all their options, and make the switch from Original Medicare to Medicare Advantage (or vice versa), from one Medicare Advantage plan to another or add on prescription drug coverage.

There are some big changes coming for prescription drug benefits in 2021. If you need help reviewing your current plan(s) or understanding your options, contact a Medicare Agent at Premier Benefit Consultant for a free consultation.

What you need to know about Medicare Part D costs 2021

The 2021 benefit and cost-sharing information for Medicare Advantage and Part D prescription drug plans is now available on Medicare.gov but here are some things you should know:

For the first time, seniors will be able to use Medicare Plan Finder on Medicare.gov to access more than 1,600 prescription drug plans that include insulin with no more than a $35 monthly copay, starting in January, 2021.

Within the finder there is a new “Insulin Savings” filter that will make it easier for seniors to find the plans in their area that are offering insulin with the