Learn Facts about Medicare Open Enrollment
The first introduction of Medicare was done in 1966. The coverage aims to offer coverage to individuals above 65 years of age and those who are below this age but have some disabilities. According to statistics, the number of Americans who benefit from this health plan 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. If you are contemplating to change the coverage you are having currently, you are certainly waiting for the next Medicare open enrollment. This is a good concern considering that you would not like the Medicare open enrollment period to pass and have to wait until the next one to come. Read on to understand more concerning Medicare open enrollment.
You need to start by understanding what Medicare open enrollment is. Let’s start by ensuring that you understand the analogy behind the Medicare open enrollment period. 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.
If you would like to have a Medicare Advantage plan, you can switch from the Original Medicare plan. It is also during this period that you can change your present Medicare Advantage plan.Alternatively, you can change to a different plan in case you have a Medicare Part D. It is good to note that the Medicare open enrollment is usually near the year-end. If you would like to change your 2020 Medicare plan, you should take advantage of the Medicare open enrollment that will begin on 15 October this year and will close on 7 December this year. The best thing is to ensure that you start to make the necessary preparations you ought to make before this time.
If you are okay with the Medicare plan that you have, you will not have to make some changes. This means that you will not have to do anything during the Medicare open enrollment period. If your plan does not discontinue due to some reasons, it will auto-renew to the next year without your intervention. Find out if there are changes on your plan since some benefits and premiums may change over time.
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