Open Enrollment is such a commonly used term now, but it has different meanings to my various type of clients….

For my Group/Employer clients, Open Enrollment is specific to each company. This is the annual period in which you can make changes to your plan, or enroll if you have not done so previously. It will always be the first of whichever month your employer informs you it is your “Annual Open Enrollment” time.

For my Medicare clients, this is a set period of time each year from October 15th to December 7th that you can make changes to your Medicare Advantage plan or Prescription Drug Plan for the coming January 1 effective date. Beginning October 1, you will see a lot of advertising and get a lot of mail regarding other plans trying to get you to change. You will also get your plans Annual Notice of Change letter. This is important for you to review. Most plans have only subtly gotten better the last 5 years. I recommend you check with me to see what you should do. We can discuss changes that could affect my recommendation for you. If you see or hear something that interests you, let’s have a conversation about your best options and how a change could affect you. Often, staying put is best.

For my Individual/Family Plan clients, Open Enrollment occurs in the 4th quarter each year, with January 1 effective dates. This allows anyone who does not have coverage to sign up on a guaranteed issue basis. No medical issue is rejected. If you already have a plan, this is the time to shop around and make changes. Let’s have a conversation each year to discuss what is new in the market and how that could impact you.