Medicare Annual Election Period Approaching

This is a friendly reminder that for those 65 and older and certain younger people with disabilities, the Medicare annual open enrollment period for Medicare Advantage and Medicare Prescription Drug coverage is almost upon us. The enrollment takes place from October 15 to December 7.

*Starting on October 1, you can take an early peek at Medicare health plans and drug plans by using the Medicare Plan Finder.

Medicare Annual Election Period: October 15 - December 17

During this period, you may:

• Switch from Original Medicare to a Medicare Advantage plan.
• Switch from a Medicare Advantage plan back to Original Medicare.
• Switch from a Medicare Advantage plan to different Medicare Advantage plan.
• Switch from a Medicare Advantage plan that does not include drug coverage to one that does, and vice versa.
• Join a Medicare prescription drug plan.
• Switch from one Medicare prescription drug plan to another one.
• Drop your Medicare prescription drug coverage.

There are different election periods for different parts of Medicare. See www.Medicare.gov for additional details.

Unless you qualify for a Special Election Period, you cannot make changes to your Medicare Advantage or Medicare prescription drug coverage outside of the Medicare Annual Election Period October 15 to December 7.

However, if you are in a Medicare Advantage plan, you may make one change during the Medicare Advantage open enrollment period from January 1 to March 31.

Medicare Advantage open enrollment period: January 1 – March 31, 2021

During this period, you may:

• Change from a Medicare Advantage plan to a different Medicare Advantage plan.
• Change from a Medicare Advantage plan to Original Medicare and buy a Part D plan.

Checklist for the Annual Election Period

1. Confirm your eligibility to enroll.
2. Decide if your current coverage still meets your needs and review any coverage changes.
3. Be aware of how joining a Medicare plan may affect your other insurance.
4. Find the best price for your coverage.

You are not alone in navigating Medicare. Please do not hesitate to contact your Kaizen Advisor if you have any questions, concerns, or would like to discuss your options.

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Sources:

https://www.cms.gov/newsroom/fact-sheets/cms-finalizes-policy-changes-and-updates-medicare-advantage-and-prescription-drug-benefit-program

https://www.medicareresources.org/faqs/when-is-the-next-medicare-open-enrollment-period/