Medicare is a federal health insurance program mostly for people aged 65 and older, though some younger people with disabilities can also get coverage.
Every year, there is a special time for people who already have Medicare to check their plans and make any changes if necessary.
This period is called Medicare Open Enrollment, and it runs from October 15 to December 7 each year.
What is Medicare Open Enrollment?
Medicare Open Enrollment is a chance for people who are already enrolled in Medicare Parts A and B to explore other coverage options.
This can include switching to Medicare Advantage (Part C) or adding Part D for prescription drug coverage. Here’s a breakdown of what you can do during Open Enrollment:
- Medicare Advantage (Part C): A private health plan that covers everything Part A and Part B offer, and it often includes prescription drug coverage as well.
- Part D: This plan helps cover the costs of prescription medications and can be added to either Original Medicare or a Medicare Advantage Plan.
During the Open Enrollment period, you can:
- Join or leave Medicare Advantage plans.
- Switch between Medicare Advantage and Original Medicare.
- Change your prescription drug plan if you’re enrolled in Original Medicare.
You don’t have to make any changes if you’re happy with your current plan. However, if you’re considering changes, now is the time to do it, as any changes made will take effect starting January 1 of the following year.
Differences Between Open Enrollment and Initial Enrollment
It’s important to know that Open Enrollment is different from Initial Enrollment:
- Initial Enrollment happens around your 65th birthday. It begins three months before your 65th birthday and lasts until three months after.
- Open Enrollment happens every year from October 15 to December 7, regardless of when you first enrolled in Medicare.
Can You Change Plans Outside of Open Enrollment?
Generally, you can only change your Medicare plan during Open Enrollment. However, there are some exceptions. For example:
- If you move to a new area where your current plan isn’t available.
- If you lose your job-based health insurance or coverage from a union.
In these situations, you may qualify for Special Enrollment to make changes outside the Open Enrollment period.
Eligibility Requirements for Medicare Health Plans
To join a Medicare health plan, you must meet a few basic requirements:
- Have Part A (hospital insurance) and Part B (medical insurance).
- Live in the plan’s service area.
- Be a U.S. citizen or lawfully present in the country.
- Know your Medicare number and the start dates of your Part A and B coverage.
Medicare Open Enrollment is an important opportunity to review your coverage options and make changes that might better suit your healthcare needs.
Whether you want to switch to Medicare Advantage or adjust your prescription drug coverage, make sure to check your options before the deadline, as any changes will take effect on January 1, 2025.
What is Medicare Open Enrollment?
Medicare Open Enrollment is the time when you can review and change your Medicare plan, like switching between Original Medicare and Medicare Advantage.
Can I change my plan anytime?
No, you can only change your plan during Open Enrollment, which is from October 15 to December 7 each year.
What is the difference between Original Medicare and Medicare Advantage?
Original Medicare includes Part A (hospital coverage) and Part B (medical coverage). Medicare Advantage is an alternative offered by private companies that covers both A and B and often includes Part D for drug coverage.
Do I need to make changes during Open Enrollment?
No, if you’re happy with your current plan, it will continue as is for another year. But if you want to switch or add coverage, Open Enrollment is the time to do it.
Can I change my plan outside of Open Enrollment?
Usually, no. However, if you move or lose job-based health insurance, you may qualify for a Special Enrollment Period to change your plan.
