Medicare Annual Enrollment: 5 Essential FAQs

What changes can I make during Open Enrollment?

You can switch from Original Medicare to a Medicare Advantage plan, change from one Advantage plan to another, or modify your Part D prescription coverage. Understanding these options allows you to tailor your healthcare to better fit your needs and lifestyle changes.

What if I miss the Open Enrollment deadline?

Unless you qualify for a Special Enrollment Period due to a major life event, you’ll need to wait until next year’s window to make changes. Missing the deadline could have significant implications for your coverage and costs, so it's crucial to mark your calendar and plan ahead.

When can I learn about next year’s plans?

Information for next year’s plans is available beginning in October. Call 1-800-MEDICARE or visit Medicare.gov. This early availability ensures you have ample time to compare and choose a plan that meets your evolving healthcare requirements.

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

Even if you’re satisfied, it may be a good idea to review your coverage. Premiums, provider networks, and drug formularies can change each year. Reviewing your plan annually saves you from unexpected changes that could affect your healthcare services or costs.

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

Original Medicare is government-managed and typically paired with separate drug coverage and optional Medigap. Medicare Advantage plans are offered by private insurers and often bundle medical and drug benefits, with some including extras like dental or vision. This distinction affects both your coverage options and potential out-of-pocket costs.

Medicare's Annual Enrollment Period is your opportunity to take control of your healthcare decisions. Start researching early, use trusted resources like Medicare.gov, and speak with a professional if needed. Even a small review of your plan can lead to big savings or better coverage in the year ahead. Don't miss out on an opportunity to optimize your healthcare strategy!