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The Annual Election Period (AEP) for Medicare runs annually from October 15th-December 7th. During this time, you can make any changes to your coverage, including medical and prescription. You must have both Part A and Part B to enroll in a Medicare Advantage Plan or a Medicare Supplement Plan. The new premium for Part B beginning in 2021 for most people will be $148.50 per month. This premium applies to new Medicare beneficiaries who are:
Enrolling or have enrolled in Medicare Part B
Not currently receiving Social Security benefits or Medicare benefits, but will begin receiving these benefits in 2021
Being billed directly for their Part B premiums
Eligible for Medicare and Medicaid (Dual Eligibility)
Or have had a modified adjust gross income (AGI) reported on their tax return 2 years ago and is above a certain amount. (Information from www.medicare.gov)
