Surprise: You Might Pay More for Your Medicare Part D Drug Plan in 2021
One major misconception about Medicare is that the program is free for enrollees, but that's just plain not true. While Part A, which covers hospital care, is generally free, Parts B and D, which cover outpatient care and prescription drugs, respectively, charge a monthly premium that can change from year to year.
In 2021, the standard monthly Part B premium will be $148.50. But Part D doesn't come with a standard premium. That's because there are a host of drug plans seniors can choose from, and so the cost of one could well exceed the cost of another for a number of reasons, including superior prescription coverage.
Now if you're currently on a Part D plan that you like, you'll need to check and see what premiums you'll be charged going into 2021, because it could be that they're increasing. But even if your premiums aren't going up, you could still end up paying more for Medicare Part D for one big reason.
Source Fool.com
