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When Is Medicare Open Enrollment?

author-photoWritten by Dylan Tate
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Dylan Tate

Dylan Tate is an insurance content expert for SmartFinancial with 70+ articles about home, auto and life insurance under...

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editor-photoEdited by Dan Marticio
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Dan Marticio

Dan Marticio is the content manager at SmartFinancial and has written 150+ articles across multiple insurance verticals....

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Updated September 7, 2023

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Medicare open enrollment is a nearly two-month period that lasts from October 15 to December 7. During this period, existing Medicare members can make changes to their coverage such as joining, switching or dropping an Original Medicare, Medicare Advantage or prescription drug plan.

Keep reading to learn how Medicare open enrollment works when signing up for coverage either through the federal government or a private insurance company and when you can enroll in certain types of health insurance plans.

Key Takeaways

  • From October 15 to December 7, Medicare beneficiaries can add or drop coverage from their plans or switch to a different Original Medicare, Medicare Advantage or prescription drug plan.
  • You will generally need to sign up for Medicare during the seven-month window surrounding your 65th birthday as you may have to pay a late enrollment penalty if you sign up during the general enrollment period instead.
  • There are additional enrollment periods you may qualify for if you buy Medicare Advantage, Medigap or a 5-star Medicare plan, if you are eligible for Extra Help or if a major life event has significantly altered your coverage needs.
  • Your Medicare plan should automatically renew itself but your costs and benefits could change from year to year.
  • You can sign up for Original Medicare through Social Security or compare Medicare Advantage quotes from private insurers through an online insurance marketplace like SmartFinancial.

On This Page

Expand Table of Contents

Types of Health Insurance and Medicare Enrollment Periods

There are several different health insurance enrollment periods when you can sign up for Medicare or some other type of health plan. See the below table for an overview of the various enrollment deadlines that apply to Medicare beneficiaries as well as deadlines for other types of health coverage.

Enrollment Type

Time Frame

Description

Medicare initial enrollment[1]

Three months before the month you become eligible for Medicare to three months after the month you become eligible

Most people are able to enroll in Medicare for the first time during a seven-month window surrounding their 65th birthday but you can also qualify in other ways such as having a severe disability or disease

Medicare general enrollment[2]

January 1 to March 31

You can sign up for Medicare during general enrollment if you missed your initial enrollment period, although you may have to pay a late enrollment penalty

Medicare open enrollment[1]

October 15 to December 7

If you have already enrolled in Medicare, you can make changes to your coverage during open enrollment

Medicare Advantage open enrollment[1]

January 1 to March 31

You can freely make changes to your Medicare Advantage plan during your first three months of having Medicare but otherwise you can only switch Medicare Advantage plans or go back to Original Medicare during open enrollment

Special enrollment periods[1]

Depends on circumstances

You can qualify for a special enrollment period and sign up for coverage at any point during the year if your health insurance needs change due to a major life event like moving to a new home or losing your job

5-star special enrollment period[3]

December 8 to November 30

Throughout most of the year, Medicare members can take advantage of a one-time special enrollment period to switch to a Medicare plan with a 5-star quality rating

Extra Help enrollment periods[4]

January 1 to March 31, April 1 to June 30 and July 1 to September 30

Medicare members who qualify for lower prescription drug costs through Extra Help can change their drug coverage once per Extra Help enrollment period for a total of three times per year outside of open enrollment

Medigap open enrollment[5]

The first day of the month you are at least 65 years old and have enrolled in Medicare Part B to six months afterward

While you can only get guaranteed issue Medicare Supplement insurance during your Medigap open enrollment period, you can shop for coverage anytime, although you may have to undergo a medical examination and could have to pay more for coverage or could be denied coverage altogether

First health insurance open enrollment period[6]

November 1 to December 15

You can sign up for a private health plan that will begin on January 1 through the Health Insurance Marketplace

Second health insurance open enrollment period[6]

December 16 to January 15

You can sign up for a private health plan that will begin on February 1 through the Health Insurance Marketplace

Medicaid or CHIP enrollment[6]

Year-round

Eligible low-income families can sign up for Medicaid or Children’s Health Insurance Program (CHIP) coverage at any time

What Can I Do During Medicare Open Enrollment?

During Medicare open enrollment, you are free to make changes to your Medicare plan such as adding or dropping coverage or switching to a different plan as long as you signed up for Medicare during your initial enrollment period. As you adjust your policy during open enrollment, you should keep in mind that there are four main parts of Medicare.

  • Part A: Also known as hospital insurance, Medicare Part A covers inpatient hospital care, hospice care, home healthcare and similar services. You should qualify for Medicare Part A at no charge as long as you or your spouse worked for at least 10 years and paid taxes into Medicare. Otherwise, you will have to pay for Medicare Part A.[7]
  • Part B: Also known as medical insurance, Medicare Part B can help you pay for outpatient care, medical equipment like wheelchairs or walkers and preventive services like vaccines or screenings. Original Medicare includes both Parts A and B, although you can opt out of Part B since it always requires a premium.
  • Part C: Also known as Medicare Advantage, Medicare Part C is a type of Medicare-approved health plan sold by a private insurance company rather than the federal government. It typically includes all of the other parts of Medicare and may include additional coverage that generally isn’t provided by Original Medicare such as vision, hearing and dental insurance.
  • Part D: Also known as prescription drug coverage, Medicare Part D can help you pay for both generic and brand-name medicines. Like Part C, prescription drug coverage is sold by private insurers that follow rules set by the federal government.[8]

parts of medicare: parts a, b, c, and d explained infographic

Are There Penalties for Late Medicare Enrollment?

You will have to pay a higher premium for Medicare Parts A, B and D if you sign up for them after your initial enrollment period, although no such penalty exists for Medicare Advantage. The below table goes over the late enrollment penalties you can expect for Medicare Parts A, B and D.[7]

Medicare Part

Late Enrollment Penalty

Example

A

Your premium will go up by 10% for two times the number of years you could have already been on Medicare Part A

If you have a base premium of $278 per month for Part A but don’t purchase coverage until two years after you are eligible, then your premium will instead be $305.80 per month for your first four years of coverage

B

Your premium will permanently go up by 10% times the number of years you could have already been on Medicare Part B

If you have a base premium of $164.90 per month for Part B but don’t purchase coverage until three years after you are eligible, then your premium will instead be $214.37 per month for as long as you have Medicare Part B

D

Unless you have a comparable drug plan or qualify for Extra Help, your premium will permanently go up by 1% of the national base beneficiary premium (which is $32.74 in 2023) times the number of months you could have already been on Medicare Part D rounded to the nearest 10 cents

If you have a base premium of $40 per month for Part D but don’t purchase coverage until six months after you are eligible, then your premium will instead be $42 per month for as long as you have Medicare Part D

Are There New Medicare Plans for 2024?

The availability and cost of Medicare plans can change each year and vary depending on your location. It’s worth noting that new changes to Medicare Part D for 2024 should make prescription drug coverage cheaper, lower out-of-pocket costs for certain insulin products and vaccines and get rid of cost sharing during a beneficiary’s catastrophic phase of coverage, which they will reach after spending spend more than $8,000 out of pocket on prescription drugs in 2024.[9] In other words, if you’ve spent $8,000 on prescription drugs, you will no longer have to pay a percentage of your drug costs for the rest of the policy term.

Is It Worth Changing My Medicare Plan Style?

Whether you should change your Medicare plan style depends on your specific coverage needs and budget. If you need more information to help you determine which type of plan would be best for you, read the below table for an explanation of some of the major plan styles available through Medicare and Medicare Advantage providers.

Plan Type

Description

HMO (Health Maintenance Organization)

HMO insurance covers treatments from doctors and facilities who contract with the insurance plan but generally doesn’t cover out-of-network care

HMO-POS (Health Maintenance Organization Point of Service)

HMO-POS insurance covers visits to both in-network and out-of-network healthcare providers, although you will have to pay more out of pocket when you go to an out-of-network provider

MSA (Medical Savings Account)

MSA insurance combines a high-deductible health plan and a savings account with money from Medicare that you can use to pay for covered medical expenses before you hit your deductible

PPO (Preferred Provider Organization)

PPO insurance covers treatments from both in-network and out-of-network healthcare providers and doesn’t require you to select a primary care physician or get a referral to see a specialist

PFFS (Private Fee-for-Service)

PFFS insurance allows you to visit both in-network and out-of-network providers, although out-of-network providers can decline to treat you if they don’t agree to the terms of your PFFS plan

SNP (Special Needs Plan)

SNP insurance provides tailored coverage for Medicare members who have a severe chronic condition, live in a long-term care facility or are also eligible for Medicaid

Is There an Automatic Medicare Reenrollment Process?

Once you have enrolled in a Medicare plan, it will generally renew itself automatically, meaning you won’t need to track Medicare open enrollment dates and reenroll. The primary exception is if you have a Medicare Advantage plan, which should renew itself in most cases but could end if your insurance company stops offering the type of plan you have or if the government cancels its contract with your insurance carrier.[10]

Even if your policy renews itself, you should remember that the cost of your plan and the benefits it provides could change from year to year.

As a result, it’s important to check for changes and determine if your plan still suits your needs when you receive the plan’s annual notice of change (ANOC) each fall.[10]

How To Sign Up for Medicare During the Open Enrollment Period

You can sign up for Medicare online or over the phone through Social Security. You’ll need to provide information such as your Social Security number, where you were born, your current health insurance information and your email address.[11]

If you’re interested in Medicare Part C, you can compare Medicare rates from private insurance companies using an insurance marketplace like SmartFinancial. Insert your zip code below and we’ll take you through a simple questionnaire about your coverage needs and then share your information with agents in your area who can provide you with free health insurance quotes.

Ready To Shop for a Medicare Advantage Plan?

FAQs

What does Medicare open enrollment mean?

Medicare Open Enrollment is when you are able to join, switch or drop a Medicare plan during a designated time of year. Open enrollment is from October 15 to December 7 each year. Medicare Advantage open enrollment begins on January 1 to March 31 each year.

Is Medicare open enrollment only once a year?

Medicare open enrollment only takes place once per year but there are several other enrollment periods you may be eligible for depending on your circumstances. For example, you will qualify for a special enrollment period anytime a major life event like moving to a new home or losing your job changes your health insurance needs.

Is Medicare extending open enrollment?

If an emergency or disaster is declared by a government entity in a certain area, then Medicare enrollment in that area is extended until two months after the end of the emergency or disaster.[12]

Sources

  1. Medicare.gov. “Joining a Plan.” Accessed September 5, 2023.
  2. Medicare.gov. “When Does Medicare Coverage Start?” Accessed September 5, 2023.
  3. Medicare.gov. “5-Star Special Enrollment Period.” Accessed September 5, 2023.
  4. Medicare.gov. “Special Enrollment Periods.” Accessed September 5, 2023.
  5. Medicare.gov. “When Can I Buy a Medigap Policy?” Accessed September 5, 2023.
  6. HealthCare.gov. “When Can You Get Health Insurance?” Accessed September 5, 2023.
  7. Medicare.gov. “What Does Medicare Cost?” Accessed September 5, 2023.
  8. Medicare.gov. “Parts of Medicare.” Accessed September 5, 2023.
  9. KFF. “Changes to Medicare Part D in 2024 and 2025 Under the Inflation Reduction Act and How Enrollees Will Benefit.” Accessed September 5, 2023.
  10. Humana. “Do You Need To Renew Medicare Every Year?” Accessed September 5, 2023.
  11. Social Security Administration. “Sign Up for Medicare.” Accessed September 5, 2023.
  12. Centers for Medicare & Medicaid Services. “Special Election Issues for Individuals Affected by Declared Emergencies and Disasters,” Page 1. Accessed September 5, 2023.
About the Author
Dylan Tate
Dylan Tate
Medicare Insurance Expert

Dylan Tate is an insurance content expert for SmartFinancial with 70+ articles about home, auto and life insurance under his belt. He has over seven years of experience writing for online publications, primarily about gaming and esports. In the process, he has become an expert in search engine optimization, news reporting, feature writing and copy editing.

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