You’ve got about a week left to make sure your 2022 Medicare coverage suits you.
The program’s fall open enrollment period, which opened Oct. 15, ends on Dec. 7. While you aren’t required to take action — your 2021 plan generally would renew for next year — experts recommend determining whether your current coverage remains your best option.
Nevertheless, most beneficiaries do not review their plan: 67% had not as of mid-November, according to a MedicareGuide.com survey. That’s similar to the findings of recent research from the Kaiser Family Foundation, which found 71% do not explore their coverage options during open enrollment.
“It can be a really unpleasant surprise for people who think they’re happy with their plan and then in January they have to confront the reality that their plan changed, which has an impact on their care or out-of-pocket costs,” said Juliette Cubanski, deputy director for Kaiser’s program on Medicare policy.
In simple terms, this annual window is for adding or changing coverage related to an Advantage Plan (Medicare Part C) and/or prescription drugs (Part D). You can switch, add or drop those parts of your coverage, and changes go into effect Jan. 1.
Fall open enrollment touches most beneficiaries in one way or another due to the coverage they select. For instance, of Medicare’s 63.3 million enrollees, 26.7 million choose to get their Part A (inpatient care) and Part B (outpatient care) benefits delivered through Advantage Plans, which are offered by private insurers. These plans are likely to include Part D.
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