If you’re on Medicare, put an X on your calendar for October 15th and put another X on December 7th. That’s the open enrollment period for existing Medicare enrollees who want to make changes to their coverage. Changes would go into effect beginning on January 1, 2024.¹
“Guard, through the Holy Spirit who dwells in us, the treasure which has been entrusted to you.”
2 Timothy 1:14
Important Dates for Medicare²
Date | What’s Happening |
|---|---|
October 15, 2023 to December 7, 2023 | Medicare open enrollment period. |
January 1, 2024 | Coverage starts for all changes made during open enrollment. |
January 1, 2024 to March 31, 2024 | Medicare Advantage open enrollment. If you are unhappy with your Medicare Advantage plan, you can make changes during this three-month period. |
Here are four questions to ask yourself during open enrollment:
1. Are any new Medicare plans available?
Each year, the cost of Medicare can change and available plans can be adjusted. Medicare suggests that enrollees review their choices and compare rates to make certain that the plan best fits their needs. If you keep your current coverage, your Annual Notice of Changes will give you a summary of how your current plan may be changing.
2. Have your medical needs changed?
If your medical situation has taken a turn, updating your policy may be an important step. For example, if you are expecting significant medical care in 2024, a more expensive Medicare Advantage plan might provide you with you appropriate coverage that may help you manage your overall healthcare spending.
3. Are you unhappy with your plan?
If you have been disappointed with the original Medicare or Medicare Advantage plan, open enrollment is the time to make the switch. Medicare Advantage plans may offer more benefits that fit your needs, including prescription drug coverage, dental services, and hearing aids.
4. What about your prescriptions?
If you’re concerned about the cost of your prescriptions, open enrollment is the time to switch to a policy that may offer more coverage.
If you’re thinking about making a change, please let us know. We may have some information that can better explain your Medicare choices, or we can help you find a professional who can guide you through the process. Medicare can be confusing, so please, understand that you don’t have to make decisions on your own.
- Medicare Open Enrollment, 2023
- NerdWallet, October 13th 2022
