A well-stocked Medication Go Bag can be used to soothe a cut or burn—or to save your life during a hurricane, flood, fire, or other emergencies.
But it’s important not to wait until you’re faced with the need to leave your home in a hurry to assemble your medication go bag, says Geoffrey C. Wall, Pharm.D., a professor of pharmacy practice at Drake University in Des Moines, Iowa.
Whether you buy a kit from a drugstore or build it yourself, Wall recommends that all households keep a medication go bag on hand. It should contain the essentials, including:
At least seven days’ worth of over-the-counter and prescription medications you take on a regular basis. Label the containers clearly, and include a printed-out list of everything you take and the regimen for each medication, plus a copy of your health insurance card (in case you need medical care while you’re away from your home).
An antihistamine for allergic reactions, such as diphenhydramine (Benadryl Allergy and generic) or loratadine (Claritin and generic).
Pain relievers, including acetaminophen (Tylenol and generic), aspirin, ibuprofen (Advil, Motrin IB, and generic), or naproxen (Aleve and generic).
Stomach and antidiarrheal remedies, including loperamide (Imodium and generic) and bismuth subsalicylate (Kaopectate, Pepto-Bismol, and generic).
An antacid for heartburn, such as Maalox, Mylanta, Rolaids, Tums, or generic.
Antiseptic wipes; an antibiotic ointment such as Neosporin, Bacitracin Plus, Curad, or generic (use only for infected wounds); and bandages, gauze, and tape, for treating burns, cuts, and wounds.
Mosquito repellent to prevent bites, and aloe gel, hydrocortisone cream, or calamine lotion to soothe bites and skin irritation.
An eyewash solution for flushing out eye irritants.
Water-purification tablets.
Scissors.
Thermometer.
Tweezers.
If you and your family have special medical needs, you can build a more sophisticated medication go bag—for example, one that contains hearing aids with extra batteries, an epinephrine auto-injector, glasses, contact lenses, or syringes.
Fill Prescriptions in Advance
For prescriptions, you and your family members take, consider asking your doctor for 60- or 90-day refills rather than a month’s worth. That way, you’re more likely to have extras on hand for your medication go bag. (This can also save you money.)
Always fill prescriptions on the first day you become eligible for a refill, rather than waiting until the day you run out. If you are able to obtain an emergency supply, establish a plan for rotating your go-bag supply so that it remains up to date. And remember to check medications periodically to ensure that they have not expired.
“During an emergency, some states allow pharmacists to dispense an emergency supply of medications without doctor authorization,” Wall says. But, he adds, “certainly if a known potential disaster, such as a hurricane, is predicted, make sure you have prescription meds and supplies before it hits.”
You might also ask your health insurance company to assist you in obtaining enough medication and supplies to have on hand.
New York (CNN Business) It’s a hallmark sign of this strange pandemic labor market: America had a record 10.1 million jobs available in June, as businesses struggled to hire enough staff to support the full reopening of the economy. That mismatch between worker demand and supply has been a defining characteristic of the pandemic recovery. Hiring is rampant across industries, as businesses are still rebuilding the capacity lost during last year’s lock-downs. Professional and business services, retail, hotels, and restaurants added the most job openings, according to the Bureau of Labor Statistics report released Monday.
But many jobless workers are facing complexities. Some continue to struggle with finding child care, while others are concerned about the risk of contracting the virus at work.
“If we want to sustain our economic recovery, we have to get serious about removing barriers to filling these open jobs,” said Neil Bradley, executive vice president, and chief policy officer of the US Chamber of Commerce.
Specifically, Bradley added, “that includes addressing childcare needs, rightsizing unemployment programs, skills training, and increasing legal immigration.”
Economists expect that at least the child care aspect will be addressed when schools reopen in person after the summer. But the rampant spread of the Covid-19 Delta variant is adding exposure risk. Meanwhile, the generous pandemic-era unemployment benefits that have already ceased in multiple states will run out in September, which could affect the rate of hiring as well.
A high deductible is often a great way to keep your insurance premiums down. However, you shouldn’t set a deductible that is so high that you cannot afford to pay the deductible when you have a claim. I’ve seen people change their collision deductible from a $500 deductible to a $1,000 deductible because money was tight and this allowed them to save about $10 per month on the premium.
Wouldn’t you know it, but not even 2 months later they ended up in an At-Fault accident. Money was tight so they didn’t have that $1,000 to get the vehicle repaired. It took forever to save up that $1,000 so they were down to one vehicle which made it tough getting back and forth to work.
Please make sure you have something in savings for an emergency. Whether it’s a car accident or your furnace breaks down. Emergencies will happen, but if you’re prepared, you can transform that emergency into an inconvenience.
HHS Announces Partnerships to Encourage Latino Enrollment through HealthCare.gov
Today, Department of Health and Human Services (HHS) Secretary Xavier Becerra announced commitments from national organizations to support Latino outreach and enrollment efforts during the current Special Enrollment Period (SEP) made available on HealthCare.gov by President Biden due to the COVID-19 Public Health Emergency. As part of the Latino Week of Action, April 18 – 24, these organizations and HHS will share information with Latino consumers and use social media to encourage them to enroll in affordable, quality health plans through HealthCare.gov.
“Helping communities take advantage of reduced costs on quality health care coverage is a priority for this Department. In addition to putting our money where our mouth is, we are partnering with key organizations representing the Latino community to engage their knowledge and network to promote enrollment in quality, affordable health insurance coverage during this Special Enrollment Period,” said HHS Secretary Becerra. “To the many Latinos who may have lost health care coverage during the pandemic, I am here to tell you that ‘help is here.’ Health care coverage is more affordable for people and assistance is available if you need help finding a health plan that best meets your needs.”
As healthcare premiums are increasing you may have noticed rising prescription costs. In a study done by Consumer Reports in 2019, 12% of individuals said their prescriptions costs increased by more than $100 over the past year. One contributing factor is that there are no federal regulations that keep drug prices in check.
How are consumers able to offset rising prescription costs?
Ask your doctor for generic:
Most brand-name drugs have generics that can be up to 90 percent cheaper. They aren’t available for all prescription drugs, but it doesn’t hurt to ask your doctor or pharmacist.
Ask about over-the-counter options:
Some medications can be a combination of two inexpensive drugs that you can purchase without a prescription.
Use manufacturer discounts:
Many drugmakers offer some type of discount. For example, Janssen, which makes Xarelto, offers a discount that can drop the price down to $10.
These are not all the ways you can help reduce your prescription costs but are some of the most effective ways. As always if you have any questions regarding your healthcare costs please talk to one of our insurance agents.
Insurance and you — why open enrollment is not something to ignore. Consider your options carefully and keep your eye on the clock.
If you are one of the 183 million people who receive health insurance through your employer, you might be asking if open enrollment actually applies to you and, if so, if there’s anything you need to do. The answer to both questions is “yes.”
Each year, an open enrollment period takes place that allows employees to enroll in their employer-sponsored health insurance. It gives you the opportunity to either confirm your current health insurance coverage or to consider signing up for a new plan that better suits your needs.
When considering your options during the open enrollment, there are several factors to take into account. Here they are.
Changes to Your Health
First, take a moment to check in with your actual health. You’ll want to plan for any upcoming or ongoing medical needs. For example, if you know you’ll need surgery in the coming months, take the time to check your insurance plan’s network of doctors. This can help you avoid any surprises when it comes to what doctors and services are covered.
Your Budget
Next, take a moment to consider how your health insurance impacts your budget over the course of the year. If you had a high deductible plan with a lower premium, did that work well for you? Or, did you have an expensive medical event that caused you to dip into your savings?
If that’s the case, it’s possible a low deductible plan with a higher monthly premium would better spread out your health care costs over the course of the year.
If you have expensive prescriptions, be sure to review the prescription benefits your company offers. Your employer might work with a prescription discount company that can help reduce your out-of-pocket costs.
More Than Just Health Insurance
Your employer may also offer additional coverage during open enrollment such as life insurance, short-term disability, long-term disability, or even pet insurance. These benefits can be valuable, especially if your employer is willing to contribute to the premium.
To determine whether or not you should participate, consider your circumstances; for example, if you are pregnant and know that you will be away from the office on maternity leave next year, you may benefit greatly from a short-term disability plan. Or, if you recently adopted a puppy, this could be a great time to look into pet insurance.
Timing Matters
Your employer will set the timing for the open enrollment period, determining the start and finish dates.
Generally, employers hold open enrollment during the fall, and your benefits will kick in on January 1 of the following year.
You should expect to receive several email notices from Human Resources – make sure to pay attention so you don’t miss any important signup details.
If you don’t believe your employer has sent anything out, make sure to ask directly. It’s important to sign up for the coverage you want by the close of open enrollment, otherwise, you may have to wait until next year to do so.
If you have a qualifying life event that occurs during the course of the year, your employer will offer you another window of time where you can adjust your benefits. Qualifying events include birth, divorce, or a spouse’s job loss. If you need to change your benefits during the year, feel free to ask questions and find out if your life event qualifies you to make a change.
During open enrollment, your employer is offering you the chance to make potentially critical adjustments to your health insurance — make sure you take advantage! Consider your options carefully and keep your eye on the clock.
Healthcare Premiums Drop Slightly As 2021 Open Enrollment Period Draws Near
Even with the election and oral argument in California v. Texas looming, the 2021 open enrollment period will soon be upon us and it’s all about healthcare premiums. In all states except California (where the open enrollment period began on October 15), the 2021 open enrollment season begins on November 1, 2020, with a deadline of December 15 in the 36 states that use HealthCare.gov. States with their own marketplaces—including New Jersey and Pennsylvania, which newly opened their own marketplaces—have set their deadlines later in December 2020 or January 2021.
Ahead of open enrollment, the Centers for Medicare and Medicaid (CMS) released new data on HealthCare.gov marketplace premiums and insurer participation for 2021. CMS’s analysis includes an issue brief on premiums, landscape plan data, and a map on insurer participation. (Public use files do not appear to be posted yet but will be available here when they are.) CMS also released the scheduled maintenance windows for HealthCare.gov for the 2021 open enrollment period.
Healthcare Premiums Drop 2%
Overall, healthcare premiums are expected to drop by 2 percent for a 27-year old for a silver benchmark marketplace plan sold through HealthCare.gov. This builds on a 4 percent decline for 2020 and a 2 percent decline for 2019. The unsubsidized average benchmark plan premium for a 27-year old will be $369/month for 2021 (compared to $388/month for 2020). In four states, silver benchmark premiums will decline by double-digits: Iowa (29 percent), Maine (14 percent), New Hampshire (18 percent), and Wyoming (10 percent). Only North Dakota will see an average benchmark plan premium increase of 10 percent or more (29 percent).
Lower Healthcare Premiums Ahead
Lower premiums are expected even with the pandemic. First, Congress repealed the health insurance tax beginning with 2021, which should result in premium savings that are passed along to consumers. Second, insurers continue to owe record-high medical loss ratio rebates in the individual market. This suggests that insurers are overpricing their products and those premium reductions are warranted. Third, more states have adopted state-based reinsurance programs: currently, 14 states have received a waiver to operate a reinsurance program. Fourth, the pandemic has led to higher profits for many insurers, further incentivizing premium reductions. These factors made it unsurprising that many insurers would reduce their premiums for 2021.
Insurer participation continues to increase.
Six more insurers will offer marketplace coverage through HealthCare.gov, increasing the total number of participating insurers to 181 for 2021. (Even so, this metric continues to lag earlier years in ACA implementation, remaining well below the high of 237 participating insurers for 2016.) Of the 36 states that use HealthCare.gov, 16 states will have more insurers compared to 2020 and 27 states will have counties with more insurers relative to 2020. Only Arkansas, New Mexico, and Wyoming will have an additional insurer offer statewide coverage. Four states have counties with fewer insurers in 2021 relative to 2020 while Delaware is now the only state with just one insurer (down from two states for 2020). Only four percent of enrollees will have access to only one insurer compared to 12 percent of enrollees for 2018 and 20 percent of enrollees for 2019.
Average premium reductions and higher insurer participation are encouraging. The uninsured rate was on the rise long before the pandemic, and robust individual market coverage options will be especially important in 2021 with millions of people losing their job or health insurance. Fortunately, many low-income consumers will continue to have options in 2021. CMS estimates that 30 percent of subsidy-eligible enrollees can find a marketplace plan for $10/month or less, and 71 percent can find a plan for $75/month or less. Of those not eligible for subsidies, 27 percent can find a plan for $300/month or less.
Deductibles Continue to Rise
At the same time, deductibles continue to rise. For bronze plans, the median individual deductible increased from $6,755 for 2020 to $6,992 for 2021. For silver plans, deductibles rose from $4,630 to $4,879. And gold plan deductibles rose from $1,432 to $1,533. Consistent with prior years, nearly all enrollees will have access to a health savings account-eligible marketplace plan in 2021.
Finally, potential maintenance for HealthCare.gov has been scheduled for early morning on November 1 (to make final preparations ahead of the start of open enrollment) and each Sunday from 12 am to 12 pm ET except on November 1 and December 13. Federal officials selected the Sunday morning time period because this is when the website receives the least amount of traffic. During any website downtime, HealthCare.gov will be unavailable for consumers to select a plan and enroll in coverage. As in prior years, CMS anticipates that actual maintenance periods will be much shorter than the scheduled slots. Despite the maximum allocation of 72 hours of maintenance last year, the website was down for only 24.5 hours and HealthCare.gov was reportedly available 96.9 percent of the time.
Whether you’re reviewing your Medicare coverage during open enrollment through Dec. 7 or are signing up for the first time, there are some key considerations to factor into your decision-making, advisors say.
Although Advantage Plans often come with low or no premiums, the out-of-pocket maximums for in-network coverage can be as much as $7,550 in 2021.
So-called Medigap plans, whose monthly premiums can be pricey, provide more flexibility.
For the nation’s older residents, the stakes can’t be higher when it comes to choosing health-care coverage.
That’s partly because under Medicare — you’re eligible at age 65 — changing plans can be challenging in some circumstances and costly if you get your choices wrong. So whether you’re giving your coverage an annual checkup during open enrollment (Oct. 15 through Dec. 7) or signing up for the first time, financial advisors say there are some key considerations to factor into your decision-making.
“I encourage people to get the best plan they can because you don’t know what will happen with your health,” said certified financial planner Carolyn McClanahan, a physician and founder of Life Planning Partners in Jacksonville, Florida.
“The most important thing when it comes to health-care costs is to be adequately insured,” McClanahan said.
Roughly 62.8 million individuals are enrolled in Medicare, the majority of whom are age 65 or older (the remainder are younger with disabilities or individuals with end-stage renal disease).
About a third choose to get their benefits delivered through Advantage Plans, which are offered by private insurers and typically include Part D prescription drug coverage. The remainder sticks with original Medicare: Part A (hospital coverage) and Part B (outpatient care). Those beneficiaries often pair that with a stand-alone Part D plan and a Medicare supplemental plan (aka Medigap), both of which also are offered by private insurance companies.
The most important thing when it comes to healthcare costs is to be adequately insured. Dr. Carolyn McClanahan
The current open enrollment period is for making changes related to those stand-alone drug plans and Advantage Plans: You can switch, drop or add them.
This window is different from your initial sign-up for Medicare when you get a seven-month period that starts three months before the month in which you turn 65 and ends three months after it. During that time, unless you meet an exception — i.e., you have acceptable coverage elsewhere — you generally must sign up for Parts A and B.
When deciding on your coverage, it’s important to consider all associated costs. In addition to things like premiums, copays or coinsurance through Medicare, be sure to consider aspects of your care that may not be covered. For example, dental, vision, and hearing generally are not covered under original Medicare, which also comes with no out-of-pocket maximums.
Additionally, higher-income beneficiaries pay extra each month for their Part B and Part D premiums through so-called income-related monthly adjustment amounts or IRMAAs. Your tax return from two years before the coverage year is generally relied on to determine whether you’re subject to the extra charges. However, if your financial situation has changed, you can appeal the decision. The charts further below show the 2020 amounts to give you a sense of how the IRMAAs are applied (income thresholds and monthly charges for 2021 have not been released yet).
Here are some tips from financial advisors when it comes to determining which type of coverage is most suitable for you.
Advantage Plan considerations
Enrollment in Advantage Plans has more than doubled over the last decade, to 24.1 million beneficiaries in 2020 from 11.1 million in 2010, according to the Kaiser Family Foundation.
These plans often come with low or no monthly premiums (although you usually still pay your Part B premium). As mentioned, they also typically include prescription drug coverage, as well as extras such as dental or vision.
However, “just know that it might look good on the surface at first, but it can be very limiting,” McClanahan said.
For example, you may have to see a doctor or other provider in the plan’s network. This means if you have a health crisis, you might be unable to see the specialist you want. And while Advantage Plans also come with out-of-pocket maximums, they can be as high as $7,550 (in 2021) for in-network coverage before the plan pays 100% of covered services.
Nevertheless, one of these plans may be suitable, depending on how much you use the health-care system. Keep in mind that generally speaking, the lower the premium, the more you’ll pay in copays or other cost-sharing.
If you’re already enrolled in an Advantage Plan, you can switch to another during this open enrollment if you find one that’s more suitable. If you take no action, your current coverage will continue next year.
“Just make sure your prescriptions and doctors are still being covered under your current plan,” said CFP Joe Boden, senior wealth advisor, and partnerat EP Wealth Advisors in Seattle.
If you want to drop your Advantage Plan during this enrollment period and are planning to pair original Medicare with a Part D plan and Medigap, be aware that getting the latter may involve medical underwriting. And if you have underlying health issues, you may be charged more or denied coverage altogether (more on that below).
Also, if you discover after open enrollment ends that you aren’t happy with the Advantage Plan you chose, you can switch to another, or drop it and return to original Medicare, during a separate window that runs from Jan. 1 to March 31.
Medigap considerations
So-called Medigap policies either fully or partially cover some cost-sharing aspects of Parts A and B, including copays and coinsurance and, perhaps, deductibles.
Each is simply assigned a letter: A, B, C, D, F, G, K, L, M and N. Some states also offer high-deductible versions of Plan F and G. While they are standardized from state to state, coverage between each plan varies. And the premiums can vary widely among locations and insurers.
For instance, the difference among the highest- and lowest-cost Plan G policies in various markets can be stark, according to the American Association for Medicare Supplement Insurance. In one Dallas ZIP code, the lowest cost is $99 per month for a 65-year-old female and the highest was $381 monthly for that same consumer. So yearly, that would be $1,188 vs. $4,572.
Nevertheless, many Medicare beneficiaries like the lower out-of-pocket predictability that can come with a Medigap plan. For example, if you get Plan D, you know that all of your Part B copays (usually 20% of covered services) would be picked up by Medigap. The same goes for the Part A deductible charged per benefit period (in 2020, that amount is $1,408).
Sticking with original Medicare also comes with flexibility in choosing where to get care. For example, if you’re vacationing far from your home state, most providers accept original Medicare. Some Medigap plans will even partially cover care if you’re traveling overseas.
“If you want to make sure you’re covered no matter where you are, a Medigap plan may be more advantageous than an Advantage Plan,” Boden said. Joe Boden SENIOR WEALTH ADVISOR AND PARTNER AT EP WEALTH ADVISORS
It’s important to know that if you don’t get a Medigap plan during your six-month “guaranteed issue” period — which starts when you sign up for Part B — it could be hard to get one down the road.
After that window, unless you live in a state with different rules, you would have to undergo medical underwriting, which could result in a higher premium or being denied coverage altogether if you have underlying health issues.
One exception: If you try out an Advantage Plan for the first time and decide within the first 12 months that it’s not for you, you generally would get a special enrollment period to purchase a Medigap policy without any underwriting.
Additionally, be sure that if you definitely want Medigap, pick the one that would be suitable long term, McClanahan said.
“Once you pick a Medigap plan, it can be really difficult to change because there might be underwriting,” she said.
Prescription drug Medicare coverage
If you’re first signing up for Medicare and wonder why you’d need prescription drug coverage when you are healthy and take no medications, be aware that you may face a life-lasting late-enrollment penalty if you change your mind down the road. And, you could find yourself shelling out full price for medicines if you have a health event and no coverage.
“People hate paying for Part D if they don’t have health issues, but the problem is that you don’t know when something could happen,” McClanahan said.
If you already have a stand-alone Part D prescription drug plan alongside original Medicare (and, perhaps, a Medigap policy), you can change it during this open enrollment if you find one that better suits you. If you take no action, you generally will remain with the same plan — which could have changed its formulary and how it covers (or doesn’t cover) certain medicines.
Be sure that any medications you take are on your plan’s formulary and that you’re at peace with any additional requirements for the plan, such as step therapy (trying a lower-cost drug before a more expensive one). Also, know your deductible. While not all Part D plans have one, it could be up to $435 (for 2020).
The bottom line is that regardless of the Medicare coverage you choose, it’s important to consider the “what ifs” in addition to the cost.
“Insurance is always one of those things where you might be glad you paid an extra amount upfront,” Boden said. “Sometimes it’s about peace of mind, even if you’re paying a little more each month.”
Contact Shield Agency owner, Andy Simmons, to answer your questions on Medicare.
The pandemic has made everyone acutely aware of the need for healthcare Insurance coverage. Small businesses struggling to survive are challenged to find ways to offer health coverage as a fringe benefit to employees. Premium costs are high.
Nonetheless, there are several ways in which small employers can help employees get coverage for the upcoming year.
5 Things to Know About Healthcare Insurance Coverage in 2021
Don’t wait until the last minute to explore your options. Here are 5 things to keep in mind.
1. Coverage Requirements for ALEs
If you have at least 50 full-time and full-time equivalent employees, you are an Applicable Large Employer (ALE) subject to the employer mandate under the Affordable Care Act. This means you must offer minimum essential health coverage that’s affordable to your full-time employees or pay a penalty. What’s affordable Healthcare Insurance? The IRS has released this information for 2021. The cost to employees can’t be more than 9.83% of household income in 2021.
2. HSAs
Health savings accounts (HSAs) allow individuals to cover their out-of-pocket costs. But to make contributions—whether by employers or employees—to such accounts, individuals must be covered by a high-deductible health plan (HDHP). For 2021, this means insurance with a minimum deductible of $1,400 for self-only coverage or $2,800 for family coverage and a cap on out-of-pocket expenses (deductibles, co-payments, and other amounts other than premiums) not exceeding $7,000 for self-only coverage or $14,000 for family coverage.
If you have group insurance that is an HDHP, then you can decide whether to contribute to employees’ HSAs. If not, then employees can choose to make deductible contributions to their accounts for 2021. More information about HSAs is in IRS Publication 969.
3. HRA Options
Health reimbursement arrangements (HRAs) facilitate tax-free reimbursements to employees. While the business can deduct these reimbursements, they aren’t subject to employment taxes. For 2021, consider these HRA options:
Qualified small employer health reimbursement arrangements (QSEHRAs). These plans reimburse employees for premiums on their individually-obtained coverage up to a set dollar limit ($5,250 for self-only coverage or $10,600 for family coverage in 2020).
Individual coverage health reimbursement arrangements (ICHRAs). These plans also reimburse employees for their premiums on individually-obtained health coverage. The law doesn’t cap the reimbursement; it’s up to the employer to fix this amount (on a nondiscriminatory basis).
Excepted benefit health reimbursement arrangements (EBHRAs). These plans help pay for certain benefits, such as dental or vision care, not otherwise covered by a general insurance policy. Reimbursement is capped up to a set dollar amount. The cap for 2021 has not yet been announced (it was $1,800 for 2020).
If you don’t provide a Healthcare Insurance plan or do have a plan (including an HRA) but you don’t pay all of the cost, you can enable employees to pay all or the balance of premiums on a pre-tax basis. The plan must offer employees a choice between cash or reimbursement for health insurance coverage. If they choose the coverage, the amount of what they’d pay for premiums that are withheld from their paycheck is not treated as taxable compensation to them. There are no employment taxes on this benefit. If, however, they choose the cash option, it’s taxable compensation.
5. Notice Requirements
Employers offering a Healthcare Insurance plan are required to give notice to employees about their participation and what’s involved. Depending on the plan, notice may include providing a summary plan document.
Generally, notice is required to be given 90 days before the start of the plan year. So, if the plan year starts on January 1, 2021, notice must be given by October 3, 2020.
Conclusion
Start shopping now for Healthcare Insurance. Contact the Shield Agency expert Carlos Garcia or another tax advisor to find ways to make this benefit available to employees without busting your budget. And be sure that whichever option you use that you do so in compliance with the law.
Medicare’s Open Enrollment ends December 7. Even if you’re happy with your current Medicare coverage, it’s important to know your Medicare coverage options for 2021. Here are a few reasons why:
Your needs may change. You may find you’re going to the doctor more or less often, the prescription drugs you take may be different, or you may need better access to health care services.
Benefits can vary. Not all Medicare coverage options offer the same benefits. Plan benefits can change from year-to-year.
New, more affordable Medicare plans may be available. The total cost, provider network, and services offered are different between plans. Review plans to see if other plan options could better meet your news or lower your out-of-pocket costs.
Review your current Medicare plan & check for changes
Does your current Medicare plan offer the benefits you need? Review your health or drug plan’s information and note any changes in costs or benefits that will happen in 2021. If you have other types of health or prescription drug coverage, make sure you understand how that coverage works with Medicare.
Compare Medicare health & drug plans
Each year, plans can make changes to the items and services they cover and what you pay. Decide if your current Medicare plan will meet your health care needs for the year ahead. If you like your current Medicare coverage and it’s still available for 2021, you don’t need to do anything.
New plan options may be available to you. If you take insulin, this Open Enrollment you may be able to get a Medicare plan that offers broad access to many types of insulin for no more than $35 for a 30-day supply. You can get savings on insulin if you join a Medicare drug plan or Medicare Advantage Plan with drug coverage that participates in the insulin savings model. You can choose among plans that offer insulin at a predictable and affordable cost. Select the “insulin savings” filter in Medicare Plan Finder to find plans that participate in this new model that can help you save on your insulin costs.
