06 Sep Medicare Enrollment 101 for Older Adults in Colorado
Fall is a time of change, and for those on Medicare, it also signifies the approach of the Annual Election Period—commonly known as Fall Open Enrollment.
This is the time to review, switch, or enroll in various Medicare plans. With the maze of options available, making informed decisions is critical. Below are six pivotal points to consider and some essential details on Medicare.
What To Know About Fall Open Enrollment
1. Timing is Everything
The Annual Election Period starts on October 15th and ends on December 7th each year. Any changes made will take effect on January 1st of the following year. For most, this is the only time you can switch between Original Medicare, Medicare Advantage, and Part D (drug) plans.
2. Review Current Coverage
If you’re on Original Medicare, consult the upcoming year’s ‘Medicare & You’ handbook to understand costs and benefits. For those on Medicare Advantage or a Part D plan, you should receive an Annual Notice of Change or Evidence of Coverage. Even if you are satisfied with your current coverage, comparing other plans may reveal a better fit for your needs.
3. Help is Available
Tools like Medicare’s Plan Finder can assist in comparing Part D plans while calling 1-800-MEDICARE can provide information about Medicare Advantage Plans in your area. Jonnah Glassman runs our local State Health Insurance Assistance Program (SHIP) and she and our certified SHIP volunteers are a fantastic resource for personalized assistance.
If you have questions or concerns about Medicare, or want to learn more about your Medicare benefits or see if you’re eligible for the Medicare Savings Program, contact us at (970) 315-1328.
4. Enrollment through Medicare
Enroll in a new drug plan by calling 1-800-MEDICARE. Document all details of your enrollment conversation for future reference. Confirm all plan specifics before making the switch.
5. A Second Chance: Medicare Advantage Open Enrollment Period
If dissatisfaction occurs with a new Medicare Advantage Plan, a second chance for change is available from January 1 through March 31. This is helpful for those who are unhappy with their plan choice or if circumstances have changed.
6. Don’t Confuse It with Federal Marketplaces
Fall Open Enrollment is specific to Medicare. Federal Marketplaces for the uninsured or underinsured have a different enrollment period and are not intended for those already on Medicare. This can lead to confusion, so it’s important to understand the differences between these two plans.
7. Staying Informed
Sign up for alerts from Medicare and other health care organizations that provide updates on changes in coverage options, deadlines, and more. It is also a good idea to review your plan annually and monitor any changes in coverage or costs!
Vintage: Your Trusted Guide to Navigating Medicare and More
Understanding Medicare and all the options can feel overwhelming, but you don’t have to go through it alone. Vintage is here to provide comprehensive resources and guidance tailored to the unique needs of older adults in Colorado. From Medicare enrollment tips, learning about Medicare Savings Plans, and finding the right drug plan for you, consider Vintage your go-to source for reliable and unbiased information. Take control of your healthcare choices—contact Vintage today.