Historically Low Medicare Advantage Premiums for 2021
Trump Administration Announces Historically Low Medicare Advantage Premiums ahead of the 2021 Annual Enrollment Period.
Ahead of the annual Medicare Open Enrollment, the Centers for Medicare & Medicaid Services announced that average 2021 premiums for Medicare Advantage plans are expected to decline 34.2 percent from 2017 while plan choice, benefits, and enrollment continue to increase. The Medicare Advantage average monthly premium will be the lowest in 14 years, since 2007, for the over 26 million Medicare beneficiaries projected to enroll in a Medicare Advantage plan for 2021. Nationally, average MA premiums had been reduced by 11% for 2021 compared to 2020. The state of Texas followed by Hawaii reported the most material increase in the number of plan options available in the state.
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