2020 Medicare Open Enrollment
2020 Medicare open enrollment is from October 15 – December 7th. As you make other year-end planning decisions, this is an important time to also review and/or modify healthcare coverage whether you are new to Medicare or have been a recipient for many years.
Review 2021 Medicare Updates and Your Needs
Check your mail! You may receive coverage, cost, and service area updates in an Annual Notice of Changes (ANOC). You can also review your 2021 “Medicare & You” booklet for changes in costs or benefits. Use these resources to evaluate if the 2021 plan will suit your needs. If you are happy with your plan you don’t have to make any changes or take action.
Keep in mind, it’s common for plans to change from year to year. Be on the lookout for modifications to:
Monthly premiums,
Out of pocket costs,
Network providers,
Network of pharmacies,
Drug coverage,
Annual deductibles,
Medication tiers,
Coinsurance,
Max-out-of-pocket limits,
and much more.
Considerations as You Evaluate Your Plan Options
You would not want to be caught off guard with a significant change to your plan. You can compare your coverage options, health plans, and see prices on Medicare Plan Finder. Some questions you should ask as you evaluate coverage information include:
Is my physician still available under my plan?
Are my medications covered?
Are there more cost-effective policies out there?
Do I have any upcoming major health procedures I need coverage for?
Will I want telehealth options to maintain social distancing during COVID?
Do I need any non-medical, health-adjacent benefits? (ex: meal delivery, doctor appointment transportation, etc.)
Changes You Can Make During Open Enrollment
If you do decide to make a change, these are the adjustments you can make during open enrollment. Any changes you make will become effective January 1, 2021.
Enroll in or change your Part D prescription drug coverage
Unenroll from Medicare Part D
Change from Original Medicare to a Medicare Advantage plan, or vice versa
Change to a new Advantage plan
To make changes call 1-800-MEDICARE or visit Medicare.gov. Remember to be aware of Medicare fraud. Medicare will never visit you and will never call or email without you initiating the communication.
