With Medicare open enrollment underway, KFF has released new analyses that examine beneficiaries’ Medicare Advantage and Part D drug plan options for 2021.
The average person on Medicare will be able to choose among 33 Medicare Advantage plans during the open enrollment period that runs through Dec. 7, finds Medicare Advantage 2021 Spotlight: First Look. It also finds that:
- The average beneficiary can choose from plans offered by eight firms in 2021, although enrollment typically has been concentrated in plans operated by a handful of insurers.
- Among the majority of Medicare Advantage plans that cover prescription drugs, 54 percent will charge no premium (although beneficiaries will have to pay the Medicare Part B premium), similar to 2020. Ninety-six percent of beneficiaries have access to a Medicare Advantage drug plan with no monthly premium in 2021.
- Medicare Advantage plans may offer supplemental benefits not available in traditional Medicare. Most plans have historically offered fitness, dental, vision, and hearing. For 2021 the vast majority are also offering telehealth (98%).