Medicare’s annual open enrollment period begins October 15 and ends December 7. During this time, current Medicare beneficiaries have the option to adjust their coverage for the coming year. Any changes to your plan will go into effect on January 1, 2022.1
This is an opportunity to reassess your current coverage and identify potential areas for improvement. Maybe you’ve recently changed medication, find yourself underutilizing coverage, or are in need of additional benefits.
Before open enrollment begins, you’ll receive a report outlining your current coverage. Review your elections carefully, especially if you haven’t updated coverage in the last few years. Medicare offers a Plan Finder tool to help compare other offerings if you’re considering making a switch.
Your health insurance coverage in retirement should work to protect your financial wellbeing. It's an important part of a comprehensive financial plan, which we can help you build. This upcoming open enrollment period is a great time to review your insurance policies as a whole and discuss potential risks to your long-term financial health.
1. Centers for Medicare & Medicaid Services, February 2, 2020
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