The annual Medicare open enrollment period is less than a week away, and if you haven't already looked into what you can do, there's a lot to learn.
The open enrollment period rolls around at the end of each year, offering Medicare recipients the most flexibility for changing their plans, no matter their current circumstances. This period lasts a little less than two months, and any changes you make during the period will go into effect in the new year.
An estimated 67 million Americans over the age of 65 receive health coverage through Medicare, all of whom are eligible to make changes during the open enrollment period. In recent years, however, researchers have found that few beneficiaries are actually making use of this period to consider their options, with a study of the 2021 open enrollment period finding that 69 percent of respondents didn't review their source of Medicare during that time. If you're hoping to buck that trend and see if there are greener Medicare pastures available to you, read on for the details you need to know.
For more on Medicare, find out if you have to enroll while still working and see how much premiums increased this year.
When is the Medicare open enrollment period?
This year's annual open enrollment period begins on Tuesday, Oct. 15, and lasts through Saturday, Dec. 7. Any changes you make to your coverage during that time will go into effect on Jan. 1, 2025.
Who is eligible for Medicare open enrollment?
This end-of-year open enrollment period is open to anyone who currently has Medicare, either through an original Medicare plan or through a private Medicare Advantage plan. You can also use this period if, for whatever reason, you don't currently have a Medicare plan but are eligible for one.
The initial enrollment period for Medicare starts three months before you turn 65 and lasts three months after the month you turn 65. If you miss that window, you'll have to make use of times like the open enrollment period to join.
How can you sign up for or change a Medicare plan during open enrollment?
To help with the process of actually reviewing plans available to you, Medicare.gov features a Compare Plans in Your Area page. This tool will allow you to select the year you wish to get coverage for -- 2025 in the case of this open enrollment period -- and enter your ZIP code to see what plans are available to you in your area.
Once you've compared and reviewed your options and decided on a plan that fits your needs, Medicare.gov has laid out three methods by which you can enroll in the plan:
If you're using Medicare's online search function, you can select Enroll for the plan you want.
You could also directly contact the company offering that plan, either by phone or by submitting a paper form by mail. If you're looking to get a Medicare Advantage plan, you might also be able to contact the provider or its enrollment centers directly.
Or you can call 1-800-MEDICARE (1-800-633-4227), or 1-877-486-2048 for those using teletypewriters, to go through the enrollment process over the phone.
For more, here's when folks will be able to sign up for ACA health insurance.