If you are currently enrolled in a Medicare Part D prescription drug plan or are receiving your Medicare benefits with a Medicare Advantage Plan (Part C) – then the annual “open enrollment” period affects you. The annual “open enrollment” period runs every year from October 15th thru December 7th. During this time, you may join or change Medicare Part D prescription plans. And your costs and medication coverage for the new year could be significantly affected by changes you need to know about for the new year. You don’t want to find out about these changes in January of the new year when you can’t make changes for the next 12 months!
Here’s what you can do during “open enrollment” with Part D prescription coverage:
- Join a Medicare Part D prescription drug plan (if you do not have one now)
- Switch from one Medicare Part D plan to another Part D plan
- Drop your Medicare Part D prescription drug plan
If you have a Medicare Advantage Plan (Part C) – you can do the following during the open enrollment period:
- Change from Original Medicare to a Medicare Advantage Plan
- Change from a Medicare Advantage Plan back to Original Medicare
- Switch from one Medicare Advantage Plan to another Advantage plan
- Switch from a Medicare Advantage Plan (no drug coverage) to a Medicare Advantage Plan (with drug coverage) or an Advantage plan (with drug coverage) to a Medicare Advantage (no drug coverage)