Updated October 15, 2023
Medicare Open Enrollment Season Reminder
Every year Medicare’s annual open enrollment season begins on October 15th and ends on December 7th. During this period, Medicare beneficiaries can make several choices about their health care for the following year.
When do the choices made during this open enrollment become effective?
Coverage for the choices made during the current open enrollment season start on January 1, 2024.
What are my options for changing my Medicare coverage during open enrollment season?
Your options during open enrollment include:
- Switching to a Part C Medicare Advantage plan from Original Medicare;
- Switching to Original Medicare from a Part C Medicare Advantage Plan;
- Selecting a stand-alone Part D prescription drug plan and Medigap plan if switching to Original Medicare;
- Staying with Part C but choosing a different Medicare Advantage plan;
- Staying with Original Medicare but choosing a new Medicare Part D prescription drug plan.
When should I consider changing my Medicare coverage?
Even if you are satisfied with your health insurance, you should evaluate your Medicare coverage every year during the open enrollment season. Common circumstances that require a change are:
- You move out of a Medicare Advantage Plan’s coverage area.
- Your physician or local hospital is no longer a Medicare Advantage Plan’s coverage network.
- Your stand-alone Part D Plan or the prescription coverage in a Medicare Advantage Plan does not cover the drugs prescribed by your doctor.
- You find a stand-alone Part D Plan or Medicare Advantage Plan that is less expensive.
What will I pay for Medicare premiums in 2024?
In 2024, the estimate for the base Medicare Part B premium is $174.70, and the estimate for the average Medicare Part D is $55.50. Because private health insurance complies provide prescription drug plans and Medicare Advantage plans, premiums for Part D and Part C will vary by plan provider and geographic location. Remember, though, that the changes to insulin costs that began in 2023 continue to apply in 2024. Stand-alone Part D plans and Medicare Advantage Plans cannot charge more than $35 for a monthly supply of insulin. This Fact Sheet from the federal Centers for Medicare and Medicaid Services details information related to Medicare coverage for insulin and insulin equipment.
I have several questions. Where can I find help?
Medicare has an online plan finder for health and prescription drug coverage. You can here to contact your state’s health insurance program (or SHIP).
In Massachusetts, the program is called Serving Health Information Needs of Everyone (or SHINE). Click here to learn more and contact a SHINE counselor.