The 2021 Annual Enrollment Period (AEP) is upon us! What does that mean? It means if you have a Medicare Advantage plan or prescription drug plan, you can shop for new plans available starting in 2021. This happens every year from October 15 th through December 7 th.

If you are already on Medicare, you’re probably getting numb to the amount advertising that goes into marketing Medicare Plans. Every year it seems like you get more and more junk mail, commercials, radio ads and emails.

Below I’ve bulleted all of the basics you should know (so you can ignore and avoid the endless media-drive insanity and make the right choice(s) for you.

• 2020 had 25 prescription drug plans in Massachusetts; 2021 has 27 drug plans
• Most formularies will change, meaning the tiers that drugs get placed into will also change
• Every plan must provide 2 drugs per therapeutic category
• Medicare Advantage Prescription Drug Plans (MAPD) include the required Part D, with separate formularies of their own
• If you have a Medicare Supplement, you most likely have a drug plan with a HIGHER than necessary premium. New drug plans have different premiums, copays, and deductibles
• Unlike MAPD, Medicare Supplements are not subject to an enrollment period. You can switch your Supplement plan at any time, it’s your drug plan that you must wait until Annual Election Period to switch
• There are little-known prescription drug discount programs. If you have a medication that is expensive or not covered, email to request information on these discount programs
• You can change your plan as many times as you want during AEP

COVID has made things more complex. Prior to the pandemic, face-to-face meetings were the best way to clearly go about getting educated on Medicare. Much like education, there is no real replacement for the interpersonal communication on difficult to understand topics, like Medicare.

I offer no-cost/ no-strings-attached consultations to Massachusetts Medicare beneficiaries. This pandemic may last for longer than any of us care to admit and the financial strain can add anxiety.

Call me or email to schedule a FREE 30 MINUTE CONSULTATION.

Far more often than not, I’m able to save individuals and couples from high premium payments, or large copays for drugs/ services. Here is an example:

If you are paying $35 per month in drug plan premiums, plus another $40 monthly in copays for your prescribed medications, that’s $900 per year. A new plan (hypothetically) might be $15 per month, with only $7 in monthly copays, totaling $264 per year. That’s $636 in annual savings for an individual and over $1200 for a couple!

Call or email immediately to setup your FREE 30 MINUTE CONSULTATION.