Medicare Insurance Agent
Long Beach California

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Annual Enrollment Period for Medicare Advantage Plans & Part D Prescription Drug Coverage

It’s that time of year again in which millions of Americans have received their Medicare Notice of change from their Medicare Advantage Plan and their Part D prescription drug plan.  As Medicare Insurance Agents our phones ring almost constantly as most other Insurance Agents do not specialize in Medicare.  

One thing you might have found out this year is that most Medicare Insurance Carriers are now only offering electronic enrollment applications.  Those nice Medicare enrollment books are almost completely gone.  We can thank Covid-19 for this.  We do have a few Medicare Insurance Carriers that are still offering the paper application as an option.  

Another big change our clients will discover is their insulin cost has decreased to $35 or even gone down to zero in some cases. 

The annual enrollment period goes from October 15, 2020 to December 7, 2020 and your new coverage will begin on January 1, 2021.

What changes do I need to look out for?

When you are reviewing your annual Medicare Advantage and/or Part D notice of change, you will want to focus on a few items.

Medicare Advantage Plans:

  1. Are my Doctors still part of my network?
  2. If you lost a Doctor or two over the past year which network did they move too so I can see them again?
  3. Did my max out of pocket cost change?
  4. Are all my co-payments the same, better, or worse?
  5. Did my plan add, increase, or decease any deductibles?
  6. Did my plan add or change my monthly premium amount?
  7. Did my plan add or take away dental or vision coverage?
  8. How did the Part D coverage change under my Medicare Advantage plan
    1. How did my Co-pays change
    2. Did my deductible go higher or lower
    3. Did my drugs stay in the same Tier category
    4. Are my drugs still covered under the formulary

Medicare Part D (Standalone Coverage)

  1. Did my monthly premium remain the same, go up or down?
  2. What new Part D plans are now available that may offer better coverage at a lower price?
  3. Are there any plans that will reduce my overall cost from the current plan that I am on?
  4. Did I add or remove any prescription drugs throughout the year that might make a different Part D plan better for me as related to the overall cost of the Part D plan?
  5. How did my Part D coverage change
    1. How did my Co-pays change
    2. Did my deductible go higher or lower
    3. Did my drugs stay in the same Tier category
    4. Are my drugs still covered under the formulary

Medicare Advantage Plans

We do have a lot of great news this for the 2021 plan year.  Medicare Advantage plans all across the State of California are seeing greater Medicare benefits being added to their plans.  In addition we are seeing Medicare Carriers decreasing the max out of pocket cost even further.  

If you have been with the same Medicare Advantage plan for a year or two and you live in Los Angeles County or Orange County your plans have seen some of the greatest benefit changes.  We would encourage you to let us do a full plan review to see what plans might offer you a greater Medicare benefit.

Medicare Part D Plans

In looking at Plan year 2020 to Plan year 2021, we discovered that there are the exact same number of Part D plan options available to you in the Los Angeles County area.  Even though the number of plan options are the same there were several new plans added and some were removed.  We also noticed that some Medicare Carriers increase their plan premium and some who added a new plan and decreased the premium amount.  

If you have talked with one of our Medicare Insurance Agents, you know that the lowest monthly premium doesn’t usually equal the lowest overall cost.  That is unless you don’t take any prescription drugs.  

We also noticed that deductibles did increase slightly as well as Tier 2-5 drug cost.  These were not large increases but they were increases that we took notice of.  The average monthly premium is around $33 per month.  You can find Part D plans as low as $7.20 and as high as $130.40.  It is always important to review all of your prescription drugs so we can find the plan that is providing you with the lowest overall cost that is not only focused on the monthly premium cost.

Let us do the research for you as we have the knowledge and systems in place to conduct a complete analysis for you on your behalf.  We also know which Medicare Insurance Carriers to avoid.

Need help we are here for you!

If you or your family member need help with your Medicare this open enrollment period, we are eager to provide you with all the help you need.  Our Medicare Insurance Agents do not cost you anything to use and we have made it our business to be your Medicare Insurance expert so you don’t have to be.  

Medicare plans are constantly changing.  Let us help you find the right Medicare Advantage Plan or Part D plan that is right for you.

Integrity Now Insurance Brokers, inc.

562-735-3553