Premiums, drug costs, insulin dropping to historic lows

Premiums for Medicare Advantage Plans are dropping to historic lows for 2021. This type of Medicare health plan, offered by a private company that contracts with Medicare, is an all-in-one alternative to Original Medicare. These “bundled” plans include Part A (Hospital Insurance), Part B (Medical Insurance), and usually Part D (prescription drug coverage). Most plans offer extra benefits—like vision, hearing, dental and more. If you have a Medicare Number, you can log in or create an account to put together or access a list of your drugs, compare your current Medicare plan to others, and see prices based on any help you get with drug costs. If you’re among the 1 in 3 people with Medicare who has diabetes, here’s some more good news: starting in 2021, many participating drug plans will offer a 30-day supply of insulin for $35 or less per month. If you take insulin and enroll in one of these plans, you could save an average of $446 per year on your out-of-pocket costs for insulin next year.

—from Medicare.gov