Don’t Miss the Open Enrollment 2023 Deadline for Medicare Insurance

Have you looked at your Medicare coverage this year?

The Medicare Open Enrollment Period (OEP) for 2023 is rapidly coming to an end, which means this week is your last chance to change your Medicare coverage before Annual Enrollment begins in October (barring any special circumstances, of course). 

Now, this isn’t a reason to panic or immediately rush to your phone to call an insurance agent. If you’re already enrolled in a Medicare plan you’re happy with, that’s great! However, this is an ideal time to review your coverage to ensure it meets all your current needs. 

What is the Open Enrollment Period (OEP)?

The Open Enrollment Period (OEP), which takes place from January 1 – March 31 each year, allows Medicare Advantage plan (private insurance company) beneficiaries to modify their coverage, or to return to an Original Medicare (Medicare Part A and Medicare Part B) plan.  It’s not the only time you can do so: you can also change your coverage during the Annual Enrollment Period, and you’re entitled to a special Medicare enrollment period if you lose your coverage due to moving or other life circumstances. However, it is recommended that you at least review your coverage for any unexpected changes during this time.

You can also use this period to sign up for Medicare if you missed your Initial Enrollment Period, though your coverage won’t begin until July.

Why might I want to change my Medicare coverage?

A Medicare Advantage plan is often offered by a private insurance company, meaning they aren’t always consistent from year to year, though they are required to be consistent within a given calendar year. Legally, Medicare providers are required to inform you of any Medicare option changes prior to the Annual Enrollment Period. However, things happen: mail gets lost, calls go to voicemail or get blocked, or sometimes you just forget. The open enrollment (OEP) period is a safety net for those moments, so you don’t need to worry about being stuck with coverage you don’t want for the rest of the year.

Sometimes, the thing that changes isn’t the Medicare plan, but your life. You may get diagnosed with a condition that qualifies you for a Special Needs Plan. Your primary care may close their practice, and you might want to switch networks as a result. 

How can I review my options?

The best way to check your current plan’s coverage is by going to their website and logging in to their official patient portal. They’ll have the most up to date information on your plan, including details on any major changes. 

If you do decide to change your coverage, you’ve got several options:

If a Medicare Advantage plan isn’t a good fit for you, you can switch back to Original Medicare. You’re also given the option to enroll in Medicare drug plan (Medicare Part D) during this time, which is important if your old plan included prescription drug plan coverage. Depending on your situation, you may want to explore Medigap options as well. These can help reduce deductibles and cover things like extended hospital stays.

You can also switch to a different Medicare Advantage plan during this time. We offer a free comparison tool that allows you to view plans side by side, giving you a bigger picture of what benefits are available. You can also call one of our licensed agents at (800) 950-0608, available Monday through Friday from 9AM-8PM Eastern.

We don’t offer every plan that may be available in your area, so it’s a good idea to cross reference our database with other resources, like Medicare’s official plan comparison tool. If you do decide to enroll through us, our comparison tool is fully integrated with our call center, making getting an agent’s help almost seamless.

If you have questions about Medicare outside of an enrollment period, our agents are available year round. We also provide Medicare news and informative articles on how to make the most of your plan. Feel free to give us a call or check our FAQ database if you have any questions!