The year’s Medicare open enrollment period starts on Tuesday. This gives people who already have Medicare a chance to look over their coverage options and make any changes that are needed.
Federal health insurance program Medicare is mostly for people aged 65 and up. It is run by the Social Security Administration (SSA). But some younger people may also be able to get treatment if they have certain conditions or disabilities.
What is Medicare Open Enrollment?
Every fall, there is open enrollment, which gives people who are already enrolled in Parts A and B a chance to look into other coverage choices, like Parts C and D.
– Part C: Known asMedicare Advantage, this is a health plan offered by private companies but approved by Medicare. It covers the benefits provided under both Part A (hospital insurance) and Part B (medical insurance) and often includes drug coverage as well (Part D).
– Part D: This is an optional plan that helps cover the cost of prescription medications. It can be added to either Original Medicare or Medicare Advantage plans to lower drug expenses.
During the open enrollment period, which runs from October 15 to December 7, individuals who already have Parts A and B can make the following changes:
– Enroll in, leave, or switch between Medicare Advantage Plans, including adjusting drug coverage.
– Switch from Original Medicare to a Medicare Advantage Plan or the other way around.
– Change or adjust prescription drug plans if you are currently enrolled in Original Medicare.
You don’t have to change anything if you’re happy with the plan you have now. Any coverage you already have will continue for another year on January 1, unless your plan is ending. Now is a great time of year to look at your health insurance needs again and see if a different plan would work better for you.
Differences Between Open Enrollment and Initial Enrollment
The open enrollment period differs from the initial enrollment period.
– Initial enrollment occurs around your 65th birthday, starting three months before the month you turn 65 and lasting until three months after.
– Open enrollment, on the other hand, happens simultaneously for all Medicare participants, regardless of when they first enrolled or when their current coverage started.
All students can look over their choices and make changes at the same time every year during this set period of time. Any changes that are made during the open enrollment time will start on January 1, 2025. Thus, it is important to think about your health care needs and make any changes you want before the due date. There are a few things you need to do in order to join a Medicare health plan:
– You must have Part A coverage, which includes coverage for inpatient hospital stays, care in skilled nursing facilities, hospice care, and some home health care services.
– You must also have Part B coverage, which helps cover outpatient services, certain doctor visits, medical supplies, and preventive care.
– You need to live within the service area covered by the plan you wish to join.
– In addition, you must be either a U.S. citizen or be lawfully present in the country.
– Finally, you’ll need to have your Medicare number and know the start dates of your Part A and/or Part B coverage when you enroll in a new plan.
Can You Change Plans Outside of Open Enrollment?
Most of the time, you can only change your coverage during the open registration period. There are, however, times when changes can be made outside of this time range. For instance, if you move to a place where your current plan isn’t available or if you lose health insurance through your job or a union, you may be able to use a special enrollment time to change your Medicare plan.