How to Prepare for Medicare Annual Election Period

Social Security Annual Election Period for Medicare

The Medicare Annual Enrollment Period for 2022 is an important time to make decisions about your Medicare coverage. It’s also a great opportunity to switch from Original Medicare Parts A and B to a lower-cost Part D plan. If you are eligible for both types of coverage, the best option may be to sign up for Medicare Advantage Plans that offer prescription drug coverage in addition to other benefits. You can then use this annual election period as an opportunity to review all of your options and choose the best one!

To best prepare for this period, first, check your current Medicare coverage. Make a list of all the prescription drugs you take on a regular basis and how much they cost per month. Then compare that information to what is available from each health plan or Part D prescription drug plan in which you might be interested

Medicare Annual Enrollment Period for 2022

In addition to reviewing costs, also consider whether there are any other benefits provided by one type of healthcare coverage over another. For example, if some plans offer free gym memberships while others provide low-cost spas services – these may be additional perks for choosing certain insurance providers rather than another! Finally, think about preferences such as location and doctor availability when making this important decision

Once you have made a final decision on which new insurance provider(s) to sign up with, you will need to act quickly. The Medicare Annual Election Period starts on October 15th of each year and ends December 31st. So, if you want to sign up for a new plan starting in January of the next year, you will need to enroll by December 31st.

If there is no urgent reason why you can’t wait until later in this period to make changes or switch plans, it may be worth considering waiting and signing up for a different provider at another time during open enrollment. This way, if something does happen between the October-December timeframe that causes your coverage options to change (such as moving across state lines), then have more flexibility about when would be the best time to take action!