If you or someone in your family has Medicare, you’ve probably heard the term Medicare Open Enrollment.
It happens every year from October 15 through December 7. It gives people with Medicare a chance to review their current coverage and make changes for the next year.
Changes made during this period generally take effect on January 1.
What Can You Do During Open Enrollment?
You may be able to:
- Switch from Original Medicare to a Medicare Advantage plan
- Switch from Medicare Advantage back to Original Medicare
- Change from one Medicare Advantage plan to another
- Join, switch, or drop a Medicare prescription drug plan
You do not have to change your coverage every year. But it’s worth reviewing if what you annually.
Why Review Your Medicare Coverage?
Medicare plans can change from year to year, and so can your needs.
A plan that worked well for you this year may have different costs, coverage, participating doctors, or prescription drug coverage next year.
When reviewing a plan, look at:
- Your monthly and out-of-pocket costs
- Whether your doctors and hospitals are in the plan’s network
- Whether your prescriptions are covered
- What benefits and services are included
Even if you plan to keep the same coverage, it helps to make sure it still fits your needs.
What If You’re New to Medicare?
If you have never signed up for Medicare before, you may not need to wait for Medicare Open Enrollment.
Most sign up during their 7-month Initial Enrollment Period around turning 65. Others who missed it can use the General Enrollment Period from January 1 – March 31.
Some people may also qualify for a Special Enrollment Period because of certain life events or changes in coverage.
Enrollment timing depends on your situation. Delaying for Open Enrollment when eligible for another period can delay coverage or trigger late-enrollment penalties.
Not Sure Which Enrollment Period Applies to You?
IAM members don’t have to figure it out on their own.
Your Legal Plan provides access to certified Medicare experts who can guide you or your loved ones in understanding options and finding the right plan.
Whether enrolling for the first time, reviewing current coverage, or assisting someone else, this benefit clarifies your next steps. Tap below if you need help today or call the Member Helpline at (646) 921-9128.
