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What You Need to Know About 2022 Medicare Open Enrollment

David Hicks

The 2022 Medicare open enrollment period begins in a few days.  This annual enrollment period runs from October 15 through December 7.

During this open enrollment period, you can make as many changes to your coverage as you want. The coverage choices you make by December 7 will take effect on January 1, 2023.

Your options during open enrollment include:  

  • Switching from original Medicare to Medicare Advantage, provided you’re enrolled in Medicare Parts A and B AND you live in the Medicare Advantage plan’s area of service
  • Switching from Medicare Advantage to Original Medicare
  • Changing Medicare Advantage plans
  • Enrolling in Medicare Part D drug coverage (if you didn’t when you first became eligible for Medicare). Note that if you haven’t maintained other acceptable coverage, you may have to pay a late enrollment penalty.
  • Changing Medicare Part D plan

Here’s what you can’t do during Medicare open enrollment:

  • Enroll in a Medigap plan
  • Enroll in Medicare if you didn’t do so during your Initial Enrollment Period. Instead, you can enroll during the Medicare general enrollment period between January 1 and March 31. Plans chosen during this period will take effect on July 1.

Medicare Advantage has its own open enrollment period that runs from January 1 to March 31. Here’s what you will be able to do during this time:

  • Switch from Medicare Advantage to original Medicare (and enroll in Part D) 
  • Switch from your current Medicare Advantage plan to a different one 

One key difference about Medicare Advantage open enrollment is that you can only make ONE change.  

Note on Part D Plans  

One last thing: many experts recommend investigating different Part D prescription drug plans every year instead of just letting your current plan renew, especially if your prescription drug needs changed during the course of the year. You can use the Medicare Part D plan finder to explore available options.

Need Help Choosing Medicare Coverage?  

Medicare can be confusing and you shouldn’t buy healthcare coverage without a plan. Medical bills can be expensive and could significantly impact your lifestyle if you end up with insufficient coverage. Get peace of mind with a comprehensive retirement plan that includes the right healthcare coverage for your needs.

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