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Quality of Life Changes made to Healthcare for Medicare Insurance Companies in 2021

Medicare has seen a drastic shift in its plans in 2021. It can get a little confusing if you are sifting through all the tweaks made, and don’t read them properly. While some of the deductibles and copayments cost more this year and certain plans are no longer available for new enrollees, there are positive changes as well like coverage has been altered to include Coronavirus expenses. Medicare Insurance companies have adjusted accordingly and it’s important that you should know what the quality-of-life changes are.

Let’s discuss them in more detail!

Changes Made to Medicare Plans in 2021:

Medicare changes in 2021 may cost a little more but some quality-of-life changes have also been made to compensate for it. But you must be wondering, why change in the first place? Healthcare costs creep higher and higher every year, and the Medicare costs increase alongside to make up for them. With that said, let’s take a look at the first change.

Change in Healthcare Trends:

Healthcare system used to be volume-based. It means the healthcare professionals were paid based on how many times they would meet with their patients. Now, it has changed to a value-based system where they’re paid based on how much your health has improved from visiting them. This is one of the quality-of-life update we referred to earlier on. It’s a good thing for both the patients and professionals, however it does come with an increased cost.

Trustworthy Medicare Insurance companies like The Benefit Link will make sure you are aware of every little change that has been made to their plans before you sign up for them. Nothing is kept hidden from you.

Up next is the closing of the “donut hole”.

Reducing the Gap:

A gap, also known as a donut hole, is a period in prescription medication coverage where your Medicare part D plan (Plan for prescription drug insurance) has paid a set amount for your medication. You enter the hole when you have to pay more out-of-pocket expenses for prescriptions until you hit the yearly limit. After this limit is hit, your plan may help with the payments again.

In 2020, the gap was effective immediately after a total expenditure of $4020 was hit. Now, you enter the gap when a total of $4130 is spent on prescriptions. As the gap comes into play a little later than usual, you get more time before you have to start paying more out of your pocket.

As you can see, the changes made to Medicare plans in 2021 are definitely not all bad. It’s just that they’re happening at a time when you may be least expecting them, therefore it becomes important for you to peruse through your Medicare plan carefully before signing up.

Medicare Insurance companies have clearly stated these alterations on their websites if you ever have any confusion. Getting Medicare Insurance is a good idea as it covers a lot of medical expenses and services. We hope this blog helps you make a more informed decision.

For further questions, visit the FAQs section below.


Is it mandatory to go on Medicare when you turn 65?

No, it’s not mandatory. However, if you do want to go on Medicare when you turn 65, there are certain procedures that need to be followed right away before the start of your Medicare plan.

What are HMOs in Medicare?

Medicare HMOs are health maintenance organizations. It is a type of Medicare plan that encourages preventive care with low copayment and deductible rates.

What’s the difference between Part A, B, C & D?

Part A covers hospitalization while Part B pays for doctor visits. Similarly, part C or Medicare Advantage Plans allows beneficiaries to have their Part A, B and D benefits under one plan. Lastly, part D covers prescription drugs.

Can I still use my doctors if I switch to a Medicare Advantage Plan?

Yes! You are not limited to using only the providers that your Medicare advantage plan allows you. In fact, most plans come with a network of healthcare providers, but you are still able to see the ones you prefer outside of the network.

What is Medigap?

Medigap policies fill in some of the “gaps” in Medicare coverage. That means it helps with costs for services that original Medicare doesn’t cover like copayments, coinsurance, and deductibles.

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