Medicare’s open enrollment period runs from October 15 to December 7. If you are enrolling in Medicare for the first time, give yourself plenty of time. You may discover that it is much more complex than an employer-sponsored group health plan.1
When you enroll in Medicare, you pay multiple premiums for multiple types of coverage (Parts A and B, as well as the Part D prescription drug plan). Unlike a group health plan, there are no caps on out-of-pocket costs and a risk that you might have to pay a hospital insurance deductible more than once per year. Original Medicare also does not cover some costs that many seniors would like to cover, such as dental and vision care expenses.2
For personal help with your Medicare enrollment application, request a meeting with an advisor. For additional help, watch the Medicare Basics webinar recording and visit Medicare Resources page for your Medicare & You handbook.
1. CNBC.com, August 26, 2020
2. Medicare.gov, September 16, 2020
3. Medicare.gov, September 16, 2020
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Facts About Medicare Open Enrollment
October 29, 2020