Medicare is a government-sponsored health insurance program that provides coverage to millions of Americans. While you may be eligible for Medicare now, that doesn’t necessarily mean you can enroll immediately. In order to enroll, you must wait until one of the enrollment periods begins.
There are several different enrollment periods, including the Annual Enrollment Period. The Annual Enrollment period offers several options. Here’s what you need to know about enrolling during this period.
What Is The Annual Enrollment Period?
The Annual Enrollment Period is one of the specified times during which Medicare applicants can choose to make changes to their Medicare coverage or enroll in a plan. The period occurs every year between October 15 and December 7. Depending on your current Medicare status, you have several different options for what you can do during this period.
Here are some things you can do during the Medicare Annual Enrollment Period:
- If you are currently enrolled in Original Medicare, you can switch to Medicare Advantage. You can also do the opposite by switching from Medicare Advantage to Original Medicare.
- You can switch to a Medicare Advantage plan with drug coverage, or to one without.
- You can join or drop a Medicare prescription drug plan.
- You can switch to a new insurer during Annual Enrollment too.
What You Need To Know About the Annual Enrollment Period
There are a few rules you should acknowledge in regards to the Annual Enrollment Period. One of the more important rules you should consider relates to when your coverage starts. If you make changes during the Annual Enrollment Period, your new coverage won’t begin until January 1st. Remember, you don’t have to make changes during this period. If you’re happy with your coverage, leave it in place until you do have changes to make.
Get The Coverage You Need–Call Us Today
Generations Insurance is prepared to help you find the coverage you need. To find out more about Medicare enrollment periods, please contact Generations Insurance today.