Medicare open enrollment runs from Oct. 15 to Dec. 7, during which you can change your Part D plan if desired. You can use Medicare’s plan comparison tool to input which medications you take and compare plan costs. You’ll want to consider the premium as well as out-of-pocket costs (such as co-pays and deductibles).
You can change your Advantage plan either during Medicare open enrollment (Oct. 15 to Dec. 7) or during Medicare Advantage open enrollment (Jan. 1 to March 31). We recommend reviewing plans during the first open enrollment period so any elections are effective Jan. 1. The second enrollment period offers some flexibility if the plan you selected isn’t meeting your needs.
After your initial enrollment period—when you first signed up for Medicare—it’s generally not advantageous to change your Medigap/supplement plan if you’re happy with the coverage you have.
Open enrollment also offers the opportunity to change between Original Medicare and Medicare Advantage. However, there are meaningful differences between the two programs, and potentially significant implications to switching including difficulty switching back to Original with a Medigap plan once you’ve opted for Advantage. Each state has a State Health Insurance Assistance Program (SHIP) to help individuals and families understand Medicare coverage and options, so they can serve as a good starting point for helping with this decision.