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Enrolling in Medicare Part D for 2021 can be a great way for individuals to get the most out of their medical coverage while also protecting themselves against ever-rising health care costs. Medicare Part D is a program run through the federal government for individuals over the age of 65 and those with certain disabilities. It is designed to provide comprehensive prescription drug coverage by reducing out-of-pocket costs for prescription medications.

An estimated 33 million individuals are currently enrolled in Medicare Part D, and the enrollment for 2021 is expected to be even higher. To help enrollees get the most out of their coverage, the Centers for Medicare & Medicaid Services (CMS) has implemented several new updates to the program. The most notable new benefit this year is the widening of the Extra Help program, which provides financial assistance for enrollees with incomes low enough to qualify. Additionally, the monthly premium cost for Part D coverage is not expected to rise significantly in 2021, meaning that enrollees can plan their budget more precisely.

The list of covered medications under Part D has also been expanded, giving enrollees a greater range of cost-effective drug coverage and allowing them to save more on their medications. Furthermore, enrollees who are already enrolled will continue to benefit from pay-as-you-go pricing. This kind of pricing allows enrollees to pay only for the medications they need, rather than being locked into a fixed rate.

The 2021 prescription drug coverage comes with a few other great benefits, as well. For example, enrollees no longer have to worry about entering a coverage gap, as the elimination of the “doughnut hole” now means that they can receive their medications without the risk of falling into the coverage gap. Additionally, Part D also now covers additional preventive care services, such as vaccinations, flu shots, and certain screenings.

Overall, enrolling in Medicare Part D for 2021 is highly recommended for individuals over 65 or individuals with disabilities. By enrolling, individuals can get more comprehensive coverage and save more on their prescription medications. Additionally, the widening of the Extra Help program and the addition of more covered medications and preventive care services allows enrollees to get more bang for their buck.