With the dropping of leaves and re-appearance of holiday decorations comes a critical period. It is Medicare and Healthcare.gov Open Enrollment season. Both insurance markets have their overlapping enrollment periods:
- Medicare: October 15th to December 7th
- gov: November 1st to December 15th for January 1st, 2022 coverage
Some individuals use this period to enroll in coverage for the first time. If you already have coverage, it is a period you can review and change it if needed. For example, there may be changes your policies premiums, or perhaps you have a new medication that is not covered by your current plan.
Please remember; not all healthcare.gov coverage automatically enrolls you for the following year. It is best practice to log in to healthcare.gov and choose to continue your existing insurance plan or enroll in a new one. This is not necessary for Medicare unless you elect to change coverage.
We encourage you to make your health insurance review part of your annual fall to-do list. If you do find your insurance costs are increasing, remember we expect that in your financial planning. Let your team know if the changes are impacting your budget.
Associate Financial Advisor