Medicare Annual Enrollment: 5 Key FAQs for Clarity

When can I learn about next year’s plans?

Information for next year’s plans is available beginning in October. You can call 1-800-MEDICARE or visit Medicare.gov to find comprehensive details. This is crucial because you want to stay informed about any changes that may affect your current coverage or present new options that better suit your needs.

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. This flexibility is important for aligning your healthcare coverage with any adjustments in your health needs or financial situation.

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 mean missing out on cost savings or improved coverage options, so it's essential to mark your calendar and make any desired changes within the allotted time frame.

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. Staying proactive ensures that you're not caught off guard by changes that could impact your satisfaction or financial obligation under your current plan.

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. Understanding these distinctions can help you choose the plan that truly matches your healthcare priorities.

Medicare’s Annual Enrollment Period is a prime opportunity to reassess and fine-tune your healthcare coverage. Understanding AEP empowers you to make savvy decisions, save money, and possibly enhance the benefits you receive. We encourage you to research early, lean on trusted resources such as Medicare.gov, and consult professionals if you have specific questions. Even a small review of your plan can lead to big savings or better coverage in the year ahead.