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The 2021 Medicare Changes That Every Senior Needs To Know About
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Medicare is comprised of three major coverage areas, known as Parts A, B and C. Changes were made to each of these parts, as listed below. In addition, Medicare coverage regarding COVID is also discussed.
Medicare is comprised of three major coverage areas, known as Parts A, B and C. Changes were made to each of these parts, as listed below. In addition, Medicare coverage regarding COVID is also discussed.
Part A Changes
Part A is what covers hospital, nursing home and related costs. Most people get this coverage without any premium payments, as part of their Social Security benefits. However, there is a deductible for each 60 day period of hospitalization or care facility admission. That deductible is $1,484 — $76 more than in 2020.
If the patient is in the hospital or care facility more than 60 days, there is a coinsurance payment the patient must pay, which is $371 per day for days 61 through 90 — up from $352 in 2020. Once you have been out of the hospital or nursing home care for 60 consecutive days, the deductible and coinsurance rates are reset.
Part B Changes
This part of Medicare is what covers doctor visits, outpatient services and treatments and some medical equipment and supplies. Unlike Part A, most people have to pay a premium payment for this coverage. In 20121, the majority of people will pay $148.50 per month.
There is also a deductible, which increased $5 from 2020 to a total of $203 per year for 2021.
Part C Changes
Medicare Part C is also known as Medicare Advantage. This is an optional type of Medicare insurance, which is sold by approved private insurance companies. While these plans have to at least provide the coverage provided by Parts A and B, many of these policies offer much broader and liberal coverage than regular Medicare. The costs for these plans are basically set by the individual companies and not the government.
However, there is a major coverage change that was mandated by the government. Medicare Advantage plans as of 2021 have to allow people with end stage renal disease (ESRD) to enroll and get coverage for their condition.
Medicare COVID Related Coverage
Changes that were made to Medicare in 2020 to deal with the COVID epidemic were continued for 2021. These changes were made to assure necessary COVID related medical care to all Medicare enrollees.
This coverage includes:
– COVID testing with no out of pocket cost
– Hospital costs for COVID related treatments and care
– Vaccination costs
