As you grow older, it becomes more and more important to choose the right health care plan. People approaching retirement age have several options to choose from, but many pick Medicare as their primary source of health insurance. However, not everyone is happy with the Medicare plan they start with. Fortunately, the Annual Enrollment Period allows Medicare beneficiaries to switch to a new plan once a year.
Annual Enrollment occurs every year, and during this time, you can switch to any Medicare plan of your choosing. To learn more about when you should begin preparing for the enrollment period, continue reading.
What is Medicare Annual Enrollment?
Medicare Annual Enrollment is a period wherein Medicare beneficiaries have the option to compare their current Medicare plan with other plans. The plans they can compare include existing plans and new plans. Any changes they make will take effect soon after and offer them the new set of benefits for the following 12 months.
What Plans Can You Join During Annual Enrollment?
During Annual Enrollment, you can switch to a Medicare Advantage plan from Original Medicare or vice versa. You can join a Medicare Part D drug plan if enrolled in Original Medicare. There are many plans available at any given time, so it is always helpful to compare your options when the Annual Enrollment time comes.
When is Annual Enrollment?
Annual Enrollment begins on October 15 and ends on December 7. The timing is usually the same yearly, though exceptions exist.
How to Prepare for Annual Enrollment
The purpose of the Annual Enrollment Period is to allow Medicare beneficiaries to make appropriate changes to their health insurance benefits. Therefore, it makes sense to use the time leading up to the enrollment period to assess your current coverage and determine whether you are happy with what you are receiving. If you are not, the Annual Enrollment Period allows you to make the appropriate changes to your coverage.
Get Help Comparing Medicare Plans
There are plenty of Medicare plans available, and it is not always easy to find one that fits your specific needs. To start comparing plans with the help of a skilled Medicare advisor, get in touch with Magellan Healthcare today. You can reach us by calling 866-779-3553.
