If you’re a Medicare beneficiary, the open enrollment period is a time to reevaluate your health coverage, compare your options, and see if there are other plans available that better meet your needs.
The Medicare open enrollment period occurs every year in the fall. In 2020, the open enrollment period runs from October 15 until December 7. When you choose a plan during this time, your new coverage will go into effect on January 1.
During the open enrollment period, you can do the following:
- Switch from Original Medicare to a Medicare Advantage Plan: Medicare Advantage often includes coverages that Original Medicare doesn’t, including prescription drug coverage.
- Switch from a Medicare Advantage Plan: If you decide you don’t need the extra services offered by your Medicare Advantage Plan, you can change back to Original Medicare.
- Change Medicare Advantage Plans: You can select a new Medicare Advantage Plan. For example, you can switch to a plan that offers prescription drug coverage if your old one didn’t offer that benefit.
- Join or switch Medicare Part D Plans: You can enroll in a Prescription Drug Plan, also known as Medicare Part D, or switch plans.
Learn more about Medicare Open Enrollment:
- Medicare Open Enrollment Starts 10/15: Here's Why it's Important
- 6 Most Outdated Myths About Medicare Open Enrollment
- 9 Costly Medicare Enrollment Mistakes Everyone Should Avoid
- Medicare Open Enrollment: 4 Critical Questions to Ask Before You Make a Choice
- Don't Fall Victim to These 5 Scams During Medicare Open Enrollment
- Compare top Medicare plans