Medicare Annual Enrollment Period Starts October 15: Everything to Know

Fall means pumpkin spice lattes, sweater weather and, of course, the start of Medicare annual enrollment, which begins on October 15 and runs through December 7.

This is the only time of year when people with Medicare can make changes to their plans. At this time:

·        People with Medicare Parts A and B can switch to a Medicare Advantage (Part C) plan

·        People can join or switch Part D (drug) plans

·        People can switch between Original Medicare and Medicare Advantage

·        People can sign up for Medicare Advantage for the first time

There is no other window to do it, so it’s important to take the process seriously and gather all the facts before you make any decisions. This year, many significant changes to plans have occurred, and it is vitally important to work with a local agent like Jay to ensure your plan still meets your needs.

Here are some things you should know about open enrollment.

Even If You Like Your Plan, You Might Find Something Better

Many people are satisfied or happy with the Medicare plan they have now, and that’s great. But don’t sleep on open enrollment just because of that. You could still find a plan that fits your needs even more.

Most people age 65 and older have health situations and needs that evolve by the year, if not the month. Building flexibility into your plan strategizing can help you find the right plan in this moment — which may not have been the right plan for you six months ago.

Jay can help you weigh the benefits and drawbacks of each approach to land on something that fits your current needs, including your financial ones.

Check What’s Changing With Your Plan

Plans do not stay static. Even if your plan remained the same last year, it could change in 2026. Here are some things that may vary from year to year:

·        In-network physicians

·        Out-of-pocket costs

·        Benefits list

·        Drug formulary

In September, you should have received an Annual Notice of Change (ANOC) from the government detailing what will be adjusting with your plan in the new year. Need help figuring out what your ANOC means? Jay can walk you through it and explain the nuances of the changes plus how they might affect you.

Know Your Deadline: December 7

Unfortunately, if you miss out on the deadline for any reason, you won’t be able to adjust your current Medicare plan. The Centers for Medicare & Medicaid Services (CMS), which oversee Medicare, have strict rules in order to ensure a fair and responsive process.

It’s best to start researching options right away so that you can make your decision and meet the deadline. Jay can help work on your timeline to get the information and input you need to make a smart, informed decision.

Finding the right Medicare plan can save you money and get you the best care when you need it. Reach out to Jay today to discuss your options.