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What is Medicare Open Enrollment (Medicare OEP 2020)

When is Open Enrollment for Medicare: Medicare Open Enrollment Dates

Medicare is a significant healthcare asset for many seniors and other people requiring assistance with health insurance in the United States. Those who are eligible for Medicare can receive support and affordable health care to deal with the variety of health issues that can crop up as we age. Enrolling in Medicare can give you peace of mind for yourself or other aging family members for whom you may be caring for.

When does Medicare Open Enrollment Start

Medicare Open Enrollment Period: List what's important for your health.

Medicare Enrollment Period 2021, also known as the Medicare OEP 2021, runs between October 15, 2020, and December 7, 2021. During this annual enrollment period, individuals who qualify for Medicare can renew or change their Medicare policies. For instance, if you have an Original Medicare plan but want to switch to a Medicare Advantage plan, you can do so during this annual open enrollment period.

When does Medicare Open Enrollment End

Key Medicare Open Enrollment Dates

If you miss the enrollment period between October 15, 2019, and December 7, 2019, for Medicare, you might have to pay more to obtain Medicare coverage. Additionally, you might spend more because of pre-existing conditions that you have. If you enroll during your initial enrollment period or an annual open enrollment period, you won’t have to worry about your insurance rates increasing because of pre-existing conditions. You also won’t have to worry about being rejected for health insurance because of health problems you may have or might be at a higher risk of developing.

Do I Have to Renew Medicare Each Year?

In most cases, once you are enrolled in Medicare, you don’t have to re-enroll or renew your Medicare plan every year. Though if your plan is being terminated and isn’t qualified for renewal, you will get a non-renewal notice from your carrier before open enrollment. If you don’t, it means you can keep your plan without doing anything.

If you want to change your Medicare policy, though, you can do that during the annual Medicare open enrollment period. This gives you the chance to change your plan or choose a different coverage option that meets your needs.

How to Change Medicare Plans During Open Enrollment

During the Annual Election Period (AEP), you can review your coverage and make changes to your plans. You can:

  • Switch from  Original Medicare Parts A & B to a Medicare Advantage Part C Plan
  • Change from Medicare Advantage to Original Medicare
  • Join, cancel or change a Part D prescription drug plan
  • Choose another Medicare Advantage plan

If you are registered within a Medicare Advantage plan, you have additional opportunities to re-evaluate your coverage during the Medicare Advantage Open Enrollment Periods. The annual period from January 1 – March 31 allows anyone within a Medicare Advantage plan to switch programs. The other is an individualized Medicare Advantage Open Enrollment Period.

This is only open to new Medicare beneficiaries who enroll in a Medicare Advantage plan during the first three months they have Medicare. They have a three-month MA OEP to switch plans. During these times, you can:

  • Switch to a different Medicare Advantage plan
  • Switch from a Medicare Advantage plan to Original Medicare and a standalone Part D plan

Medicare Open Enrollment Guidelines

If you want to obtain Medicare coverage for 2020, it’s important to remember when the open enrollment period is. If you are 65 or about to turn 65, have End-Stage Renal Disease, have Amyotrophic Lateral Sclerosis, or qualify for disability, you can enroll in Medicare. Individuals interested in Medicare insurance need to be US citizens or legal, permanent residents of five years or more.

Medicare Open Enrollment Options

Medicare Enrollment 2020, also known as the Medicare OEP 2020, runs between October 15th, 2019, and December 7th, 2019. During this annual enrollment period, individuals who qualify for Medicare can renew or change their Medicare policies.

For instance, if you have an Original Medicare plan but want to switch to a Medicare Advantage plan, you can do so during this annual open enrollment period. If you miss your initial enrollment period and the annual open enrollment period for Medicare, you might have to pay more to obtain Medicare coverage.

Additionally, you might spend more because of pre-existing conditions that you have. If you enroll during your initial enrollment period or an annual open enrollment period, you won’t have to worry about your insurance rates increasing because of pre-existing conditions. You also won’t have to worry about being rejected for health insurance because of health problems you may have or might be at a higher risk of developing.

If you want to obtain Medicare coverage for 2020, it’s important to remember when the open enrollment period is. If you are 65 or about to turn 65, have End-Stage Renal Disease, have Amyotrophic Lateral Sclerosis, or qualify for disability, you can enroll in Medicare. Individuals interested in Medicare insurance need to be US citizens or legal, permanent residents of five years or more.

Medicare Advantage Open Enrollment Period

Medicare Advantage plans are a way to get different kinds of healthcare that you might require. In addition to offering the same coverage as Original Medicare, Medicare Advantage plans will give you options to include prescription drug coverage, vision and hearing coverage, dental coverage, and more.

These Medicare Advantage plans are beneficial for people who require additional health support for hearing, vision, dental, or prescription drug coverage. Glasses, required medications, hearing aids, dentures, and other needed medical care and equipment can be expensive.  Having a Medicare Advantage plan can help cover some of the cost of that care.

Medicare Advantage plans are offered through private insurance companies and are required to all offer the same kind of coverage. Individuals with a Medicare Advantage plan usually pay a small deductible for the services, as well as co-pays for doctor visits and co-insurance. Medicare Advantage plans contain hospitalization coverage as well as coverage options for prescription drugs and lab tests that you might need.

Depending on the coverage you choose, you might have to pay nothing for your monthly premium; some people may have a small premium payment.

With changes to the health care system happening regularly, there have been a few updates to the Medicare Advantage plans for 2020. In 2020, advantage plans may not be offered in all areas of the United States. Certain doctors and hospitals participate in Medicare Advantage plans, so individuals interested in signing up for a Medicare Advantage plan should see if their preferred doctor is enrolled in these services, too.

Do your research to make sure that your insurance, whether it is Original Medicare or a Medicare Advantage plan, takes care of the services you use most often with the doctors and hospitals you would go to in case of a medical event in your life.

Medicare Part D Enrollment

When you determine which type of Medicare you need, Medicare prescription drug coverage (Part D) may be a type of coverage you may want. Medicare’s AEP begins October 15 and ends December 7 of each year. The choices you make usually take effect on January 1 of the following year. During AEP you may:

  • Switch Medicare Advantage Plans.
  • Join a Medicare Prescription Drug Plan.
  • Change from one Medicare Prescription Drug Plan to another.
  • Drop your Medicare prescription drug coverage altogether.

Medicare Supplement Open Enrollment

Medigap insurance is a type of supplemental insurance that can help people obtain more health insurance coverage for medical problems they may have. Medicare supplemental insurance works with Original Medicare to financially assist people to pay for health care visits. Medigap can be a good insurance policy option for people who need a little more help with the financial side of health insurance, in addition to closing health insurance coverage gaps they may have.

Medigap policies can be purchased when you turn 65 during your initial enrollment period or the annual open enrollment period for that year. Individuals can enroll in Medigap even if there are pre-existing health issues in your life. If you miss the open enrollment period for Medigap, you may have to undergo a medical exam to qualify medically for supplemental health insurance. Check your Medigap options alongside your other Medicare choices when you turn 65 to make sure you are taking full advantage of this program if you qualify.

Medigap policies can be used wherever a doctor, hospital, or medical center accepts Medicare. Medicare supplemental insurance helps with deductibles and co-pays alongside Original Medicare. There are 10 Medigap options for people to choose from, so individuals can see what policy would benefit them the most.

Enrolling in Original Medicare

If you are turning 65, you may be eligible to enroll in Medicare. If you receive benefits from social security or the Railroad Retirement Board, you will be automatically enrolled in Original Medicare, which is Medicare Parts A and B, the same month you turn 65. You can also enroll in the Medicare program three months before your 65th birthday and up to four months afterward (for a total of a seven-month initial enrollment period). This is called your Initial Enrollment Period, or IEP. This is different from the annual enrollment period, or open enrollment, which occurs at the same time every year.

Enrolling in Medicare is simple and straightforward; if you’re 65, you’re likely already automatically enrolled. If you’re curious about finding out more about Medicare, the different plans, supplemental Medigap insurance, and more, you can visit the official Medicare website at www.medicare.gov. This has many resources for individuals looking to see if they qualify for Medicare and how this program can benefit them.

Medicare is a federally funded health care insurance option for seniors in the United States. This program is used to provide health insurance and financial assistance to seniors in the country who are experiencing common health ailments as they age. If you qualify, be sure to take advantage of the 2020 Medicare open enrollment period between October 15, 2019, and December 7, 2019.

Medicare 2020 Open Enrollment Coverage Changes

In 2020 some significant changes are coming during Medicare Open Enrollment. For one, Medigap plans that cover the Part B deductible (Medigap plans C and F) will no longer be available for those newly-eligible for Medicare.

Those currently enrolled in the Medigap Plans C and F can keep them, and those who were eligible for Medicare before 2020 will still be able to purchase. But for newly-eligible enrollees, Plan C and Plan F will be ended after 2019.

Another significant change will be the elimination of the donut hole for generic drugs. As it stands, the gap in prescription drug coverage begins when the initial coverage limit ($3,820 in 2019) is reached and ends when $5,100  (2019) has been hit. Once fully closed by ACA in 2020, those enrolled in standard Part D plans will pay 25% of the cost of their drugs up to reaching the catastrophic threshold. However, the donut hole has been closed one year earlier for brand name drugs. Out-of-pocket costs for branded medicines will be limited to 25% in 2019 (down from the predicted 30%), and 37% for the cost of generic drugs (down from 44%). The Medicare Part D maximum deductible will be $435 in 2020, up from $415 in 2019 (it increases each year).

The final development is that Medicare Advantage plans will continue to be ever-changing.  A whopping 34% of Medicare recipients were enrolled in a Medicare Advantage plan in 2018, a notable increase from the initial enrollment total back in 2010. CMS reports that about 37% of Medicare recipients have private coverage instead of Original Medicare, and mostly all enrollees have Medicare Advantage, although a tiny portion has Medicare Cost Plans. Most people continue to have numerous Medicare Advantage plans as well as Part D plans available to them. However, these providers can change the coverage options yearly, so it’s crucial to stay up-to-date.

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