Most seniors probably know the significance of these dates, but here’s a refresher.
At this time of year, Medicare Advantage and Part D Drug Plans routinely send out letters notifying their members of changes to coverage.
Such changes could include increases in premium and out of pocket expenses. Or, changes to the drug formulary.
Armed with this information, Medicare beneficiaries have an opportunity to modify their coverage, too. This is allowed during the Open Enrollment Period (OEP) which lasts from October 15th through December 7th. Changes made would be effective January 1st.
Make sure you review carefully the information your Plan sends you.
If you’re satisfied with your coverage, don’t do anything. Your Plan will automatically re-enroll you for next year.