Medicare Annual Enrollment FAQ: What You Need to Know

When can I learn about next year’s plans?

Information for the upcoming year’s Medicare plans becomes available starting in October. You can call 1-800-MEDICARE or visit Medicare.gov to get details on plan options. Understanding next year’s programs in advance allows you to compare plans and make informed decisions when the Annual Enrollment Period (AEP) begins.

What if I miss the Open Enrollment deadline?

If you miss the Open Enrollment deadline of December 7, your options to change plans will be limited. To make changes outside this period, you would need to qualify for a Special Enrollment Period due to specific life events. If not, you’ll need to wait until the next enrollment window. Thus, it’s vital to act promptly during AEP.

Do I need to do anything if I’m happy with my current plan?

Even if you are satisfied with your current plan, it's still a good idea to review it. Premiums, provider networks, and drug formularies may change annually, and assessing these updates can ensure that your plan continues to meet your needs effectively without unexpected surprises.

What changes can I make during Open Enrollment?

You can make several changes during the Annual Enrollment Period: switch from Original Medicare to a Medicare Advantage plan, transition from one Advantage plan to another, or adjust your Medicare Part D prescription drug coverage. These options enable you to tailor your healthcare to better fit your needs each year.

What’s the difference between Original Medicare and Medicare Advantage?

Original Medicare is managed by the government and is often combined with separate drug plans and optional Medigap policies for additional coverage. Medicare Advantage plans, however, are offered by private insurers and typically bundle medical and drug benefits. Some even include extra features like dental or vision coverage. Knowing these distinctions helps you choose the best fit for your healthcare needs.

As the Medicare Annual Enrollment Period approaches, take control of your healthcare decisions by starting your research early. Use reliable sources like Medicare.gov and consider speaking with a professional if needed. Even a small review of your plan can lead to significant savings or enhanced coverage in the coming year.