Medicare Enrollment: 5 FAQs to Simplify Your Decision

Medicare’s Annual Enrollment Period (AEP) happens every year from October 15 to December 7. It's a limited-time opportunity to make changes to your Medicare coverage. While AEP can feel confusing, this blog will simplify the most common questions and empower you to take informed action. Read through each FAQ carefully, even if you think your plan is working just fine.

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. This is vital because missing the deadline means being potentially locked into a less-than-ideal plan for a whole year.

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. Each of these changes can impact your out-of-pocket costs and coverage, so it's important to choose wisely.

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 differences can help you decide which type of plan fits your needs best.

When can I learn about next year’s plans?

Information for next year’s plans becomes available starting in October. Call 1-800-MEDICARE or visit Medicare.gov. This allows you to compare new options and ensure your current plan is still the best choice.

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. Regularly reviewing these elements ensures that your coverage still matches your needs and budget.

Understanding AEP gives you control over 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.