What to Know Concerning Medicare Open Enrollment

1966 is remembered as the year when Medicare was first introduced. This kind of health insurance programs is meant to offer coverage to people who are 65 years and above and those who are below this age and but have some disabilities. The number of Americans who make use of this coverage annually is about 60 million. People who make use of Medicare can utilize hospital insurance which is Medicare Part A or medical insurance which is Medicare Part B or the prescription drug coverage which is the Medicare Part D. In case you would like to change your present coverage, you are likely wondering when the Medicare open enrollment is on. The truth is that the question is valid since the last thing you would want is to have the current Medicare open enrollment period to pass, leaving you with no option but to wait for the next Medicare open enrollment period. If you would like to know more concerning Medicare open enrollment, read on.

You need to start by understanding what Medicare open enrollment is. Let’s start by ensuring that you understand the analogy behind the Medicare open enrollment period. Medicare open enrollment period is that time when you can effect changes to any of the varying aspects of your coverage. This is the period when you can effect changes that you may need to effect to ensure that the plan suits your needs. During the open period, you can effect varying changes, but we are going to mention just a few.

In case you currently have the Original Medicare plan, you can switch it to Medicare Advantage Plan It is also during this period that you can change your present Medicare Advantage plan. In case the Medicare Part D is not good for you, and you would like another plan, you can switch during this period. It is good to note that the Medicare open enrollment is usually near the year-end. If you would like to change your 2020 Medicare plan, you should take advantage of the Medicare open enrollment that will begin on 15 October this year and will close on 7 December this year. You should start to think about the changes you plan to make early enough to avoid the last-minute rush.

You will not need to make changes to your current Medicare health plan if the one you have is okay with you. When you have no changes to make, you will not require to mind about Medicare open enrollment period. If there are no reasons that can cause discontinuation of your plan, it will auto-renew, and the same plan will carry on to 2020. Find out if there are changes on your plan since some benefits and premiums may change over time.