Upcoming Medicare Enrollment Period: How to Prepare

Prepare for Medicare's annual enrollment period from October 15 to December 7. Review your current coverage, compare new plans, and select options that meet your health needs. Understand key dates, plan options, and assistance resources to make informed choices and optimize your healthcare coverage for the upcoming year.

Upcoming Medicare Enrollment Period: How to Prepare

The Medicare open enrollment window runs from October 15 to December 7 each year. During this time, beneficiaries can review, change, or maintain their Medicare plans for the upcoming year. Expect to receive numerous mailings from private insurers offering different coverage options.

Key Dates for Medicare Open Enrollment
Starting October 1, 2019, you can compare current coverage with new options for 2020. Between October 15 and December 7, 2019, you can modify or keep your Medicare health or prescription drug plans for 2020.

Effective from January 1, 2020, any new or adjusted coverage begins. If you're enrolled in a Medicare Advantage plan, you can switch plans or revert to original Medicare, including a standalone Part D plan, anytime from January 1 to March 31, 2020, once during this period.

During open enrollment, beneficiaries can modify various aspects of their coverage:

Transition between Original Medicare and Medicare Advantage.

Switch from one Medicare Advantage plan to another.

Enroll in Medicare Part D if you haven’t previously, or change to a different Part D plan.

To qualify for Medicare Advantage, beneficiaries must be enrolled in Parts A and B and reside within the plan’s service area.

Choosing the Right Plan for Seniors
Comparing plans based on individual healthcare needs is essential to manage costs effectively. Despite its simplicity, many overlook reviewing plan details, missing opportunities for better coverage. This year, new regulations on medication coverage and out-of-pocket costs, along with benefits in private Medicare Advantage plans, have introduced changes. Notably, premiums for Medicare Advantage plans have reduced by 14% for 2020. The Medicare plan finder tool has been refreshed to include new benefits and challenges for seniors to consider.

Prioritize your healthcare needs when selecting coverage. Review the latest "Medicare & You" handbook, especially if you’re on traditional Medicare. Your needs may have shifted—for instance, new costly prescriptions could necessitate adding a Part D plan. Consider access to your primary care doctor, specialists, or hospitals. Be cautious of plans offering tempting perks that may not suit your health requirements.

Important considerations include:

Original Medicare enrollees must purchase Part D through private insurers.

Many Medicare Advantage plans include prescription coverage.

If not included, you can buy a separate Part D plan.

Initial Open Enrollment is the first opportunity to enroll in or switch prescription drug plans. Late enrollments may incur penalties.

Assistance with plan selection is available via the marketplace, agents, or local organizations that provide guidance to find the most suitable coverage.