When is the Annual Enrollment Period?
The Medicare Annual Enrollment Period runs from October 15th to December 7th. Don’t miss the deadline!
Is this the only time to enroll in Medicare?
For most people, this is the one opportunity to change their Medicare benefits for the next calendar year.
There are a couple of notable exceptions however.
- If you have Medicare Advantage and decide to switch to a different Advantage plan or would like to switch back to Original Medicare, you have from January 1st until March 31st to do so.
- The other exception is for people who qualify for a “special enrollment period,” due to a life event. Triggering life events include: moving out of the insurance coverage area, moving back to the US from abroad and losing your or your spouse’s employer health insurance.
What changes can be made during the Annual Enrollment Period?
Examples of changes that can be made during the Annual Enrollment Period are:
- Switching from Original Medicare to Medicare Advantage (Part C)
- Dropping Medicare Advantage and re-enrolling in Original Medicare
- Adding Part D (prescription coverage)
- Changing your Part D plan to another Part D plan
- Transferring from one Medicare Advantage plan to another
What else do I need to know?
Some key points to know before making a change are:
- Do your research! Be sure you understand the differences between Original Medicare and Medicare Advantage, before you make a change.
- When evaluating whether to keep your current Medicare plan, consider any health and/or medication changes that have occurred over the past year. These changes may potentially impact the coverage you need going forward.
- If your income is limited, you may be eligible for help paying for Original Medicare premiums, copays, medications, etc. See if you qualify for financial help.
- You must be signed up for Original Medicare before you can switch to Medicare Advantage (Part C) or add Part D.
- If you currently have Medicare Advantage and/or Part D, be sure to carefully review the Annual Notice of Change form (mailed out in September). This document informs you of cost and/or coverage changes to your current Advantage or Part D plan for the upcoming year.
- Remember, although the last day to make changes during the annual enrollment period is December 7th, the changes don’t go into effect until January 1st.
If you’d like to talk through the options with someone, there is a free service that can help. Each jurisdiction has a State Health Insurance Assistance Program (SHIP) with trained counselors that can discuss your specific situation. Find the State Health Insurance Assistance Program (SHIP) in your area.
Good luck! And don’t forget, any changes to your Medicare for next year need to be made by December 7th!
