The Medicare Open Enrollment period is approaching, so we thought it was important to break down what you should know as a Medicare recipient. Keep reading to find out more about Open Enrollment and what you can change starting October 15, 2021!
Open Enrollment is for current Medicare recipients
Although it may sound like it, Open Enrollment is not the time to enroll for Medicare benefits for the first time, though there are some exceptions. As a general rule, you can enroll for Medicare up to as three months before your 65th birthday. There are some exceptions that allow you to enroll early, which you can read more about here.
Choosing the right plan
During the open enrollment period, you can make a variety of changes to your existing plan based on the type of plan you have. For example, you can change from Original Medicare to Medicaid Advantage if you’re enrolled in Medicare Part A and Part B, and you live in the Medicare Advantage plan’s service area.
Original Medicare includes hospital insurance, called Part A, and medical insurance, called Part B. There is also Medicare Advantage, which is also called Medicare Plan Part C. Medicare Advantage includes Part A, Part B, and usually Part D, which is prescription insurance.
You can learn more about Medicare plans here.
What you can change
Because there are different Medicare plans, there are different changes you can make. During open enrollment you can:
- Switch from Original Medicare to Medicare Advantage or vice versa
- Change from one Medicare Advantage Plan to another
- Switch from one Medicare Part D plan to another
- Enroll in Part D if you haven’t already
It’s important to understand your Medicaid plan and what you can change during open enrollment. Open enrollment begins October 15 and closes December 7 each year. Any changes you make will go into effect at the first of the year.
