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Medicare’s Open Enrollment Period Lasts Until December 7

Medicare’s open enrollment period began in early October and runs through December 7. Many potentially eligible Floridians might be wondering what steps they must take during this period. It largely depends on each person’s circumstances.

The part of the Medicare program you need and use is a primary factor when it comes to what you should do as part of open enrollment. For your reference, below is a brief overview of the four parts:

  • Part A: This part covers inpatient visits to hospitals and skilled nursing facilities. If you have paid into the system by working an equivalent of 10 years, you do not have to pay any premiums. If not, you must pay in to receive Medicare benefits.
  • Part B: Everyone pays premiums for Part B coverage, which includes supplies and outpatient services. People with higher incomes usually pay higher premiums. If you are single and make at least $85,000 or are married with a joint income of $170,000 or more, you will pay more than most Americans.
  • Part C: Also known as Medicare Advantage, this program allows people to choose from a private insurance plan approved by Medicare instead of using Parts A and B. Each plan has its own variables, with differences across the board in coverages, deductibles and co-pays.
  • Part D: Part D involves prescription drug coverage. This voluntary option is typically included with Medicare Advantage plans. But if you have Parts A and B instead of Part C, you may add on Part D coverage.

If you like the coverage you have and are aware of upcoming changes, you do not need to take any action. Keep in mind that the enrollment period does not have to do with initially signing up for Medicare — you get a much longer window for that.

To learn more about the steps you need to take before the Medicare open enrollment period closes, consult a skilled Florida estate planning attorney with The Charles Law Offices.

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