Have you been paying attention to the latest Medicare news? There’s a big change coming for 2021, and older adults need to know what’s happening. During open enrollment, Medicare often changes from year to year. But for 2021, one of the biggest changes to happen to Medicare is taking place – and anyone who’s enrolling or changing their plan during 2020’s open enrollment period needs to be aware.
Whether you’re a new or current Medicare subscriber, the Medicare changes taking place in 2021 might affect your coverage, your supplement plan options, and your healthcare costs. That’s why it’s so important to know what changes are happening, and how they’ll directly impact you.
How does Medicare work?
There are four plans in Medicare for you to choose from in total. Each of these four plans has its own specificities that are in line with your condition and diseases. Once you identify the one that suits you best, choose the plan, and register for it. There are going to be a lot of options to choose from, but you need to contemplate on which features of these plans give you the best coverage and aid.
Plan A: this plan entirely focuses on hospital care and the utilization of hospital amnesties. The amenities that it covers are nursing, medications within the hospital premises, means, and rooms with privacy. This plan does not, however, cover prescription drugs and equipment usage or transportation to and from the hospital. People with age over 65 years have plan A covered automatically.
Plan B: the plan covers treatment services and medical supplies if you need any for the treatment. Plan B covers the transportation and equipment to be used outside of the hospital. The treatment and management recommended by the doctor outside of hospital premises are covered in this plan. If you have plan A, then you automatically become eligible for Plan B of Medicare as well.
Plan C: this one covers the medical expenses over a monthly payment which is regularized according to your needs. You only have to pay a consistent monthly fee rather than a hefty amount at once when you visit. It mimics a regular health insurance plan in this manner. This plan can substitute plans A and B and provide a little extra as well.
Plan D: this is the only plan which covers prescription drugs along with the treatment and equipment cost. It can be used alongside plans A and B. the two ways that you can manage plan D is either by enrolling in it first and then get your prescription according to it, or you can first get your prescription and then go to choose a plan.
The enrollment for Medicare has already begun at the beginning of October. The registrations will continue until the end of the year, so you can go ahead and start planning on getting one for yourself.