Why do I have to pay attention to Open Enrollment? I am happy with my current Mediare plan.
You are happy with the plan you have today.... But the Part D drug plan or Medicare Advantage plan you have today is NOT the same plan you'll have in the next calendar year.
Each January 1st marks the start of a new plan year.
A new plan year means insurance companies can – and often do – make changes to their plans that can cost you. If you're not paying attention and simply let your plan renew, these are changes you’ll have to live with for better or worse in new year.
Here are some important things that insurance companies can change in your coverage. For Part D plans:
For Medicare Advantage health plans:
Prior to the Open Enrollment Period, your Medicare Advantage or drug plan must send information about changes in benefits and costs for the upcoming calendar year. Take time to study that information.
You can make changes anytime between October 15 and December 7.
If you have concerns about your coverage, you can use the Medicare Plan Finder to compare plans.
Or, if you prefer to have an unbiased Medicare expert review your coverage and ensure you're making the most cost-effective choices, 65 Incorporated offers a Medicare Tune-Up™ service.