What to Know Concerning Medicare Open Enrollment
1966 is remembered as the year when Medicare was first introduced. The coverage aims to offer coverage to individuals above 65 years of age and those who are below this age but have some disabilities. The number of Americans who make use of this coverage annually is about 60 million. Among the privileges people can enjoy under this policy include Medicare Part A which is for hospital insurance, Part B that is for medical insurance, and Part D that is for drug prescription. 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. Read on to understand more concerning Medicare open enrollment.
The first thing is to appreciate what is the meaning of Medicare open enrollment. But even before you get to appreciate what Medicare open enrollment is, you should understand the meaning of the Medicare open enrollment period is. During the medicare open enrollment period, you get the opportunity to make the right changes to varying features of your coverage. In case there are some parts of the current coverage plan that are not making you happy, you can make the necessary changes during this period. During the open period, you can effect varying changes, but we are going to mention just a few.
First, you can change your current Medical plan to Medicare Advantage plan. It is also during this period that you can change your present Medicare Advantage plan. The period also offers you the chance to change your Medicare Part D to another plan. Medicare open enrollment takes place near the year-end. If there are some aspects of your current plan that you would want to change, you should ensure that you do not allow the Medicare open enrollment that will start this year on October 15th and will close on this year December 7th pass you by. You should start to think about the changes you plan to make early enough to avoid the last-minute rush.
If the current Medicare Health Plan is making your happy, you will not require making any changes. This means that you will not have to do anything during the 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. Since there may be changes in the plan annually, make sure that you check if there are any changes.