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Facts about Medicare Open Enrollment

By September 3, 2020 September 16th, 2020 Personal Insurance
open enrollment sign

Medicare Open Enrollment is almost here, and it’s a time when individuals review their health insurance policies. It’s a great opportunity to change your Medicare coverage, though there a few things you should note to ensure the process is smooth for you.

The Annual Election Period runs from October 15 through December 7.

  • If you enroll in a plan during the Annual Election Period, your coverage will start on January 1, 2021.
  • In most cases, this is the only time you can choose a new Medicare Advantage or Medicare Part D plan.
  • If you have Medicare Advantage, you can also switch to Original Medicare.

Medicare’s Annual Election Period is different from Open Enrollment for the state or federal Marketplaces.

  • The federal Marketplaces offer annual open enrollment periods for uninsured and underinsured Americans. This enrollment period often coincides with the Fall Open Enrollment. The Marketplaces are not meant for people with or who are eligible for Medicare.
  • If you have or are eligible for Medicare, you should only use the Annual Election Period to change your Medicare coverage.

You’re able to review your current Medicare health and drug coverage.

  • If you’re unsatisfied with your current Medicare coverage, you can make changes to your coverage during the Annual Election Period. The changes will take effect on January 1st of the following year.
  • Even if you’re happy with your current Medicare coverage, take action and look at other Medicare options in your area that may suit your individual needs in the upcoming year.
  • If you have a Medicare Advantage Plan or a stand-alone Part D plan, you should receive an Annual Notice of Change.
  • If you are happy with your plan, no action is needed for your plan to renew.

Help is available.

  • If you have questions or would like to change plans, please contact your licensed agent directly:  medicareinfo@unisource-ins.com or call 414-774-7040. A licensed, certified agent is best suited to evaluate your plan options and facilitate plan changes.

When searching for the right life insurance, health insurance, and Medicare solutioncontact the professionals at Unisource Insurance Associates, serving Milwaukee and neighboring cities of Wisconsin. We provide you with the optimal insurance coverage, and we take the time to explain what your policy entails.