Get Ready for 2023 Open Enrollment

The Open Enrollment period is coming up and if you are near or at retirement age, you may be thinking about your options. Healthcare costs are a huge source of stress on retirees, so it’s important to know your options.

What is Open Enrollment?

Open Enrollment is the time period where you are able to review your health insurance plans and make changes as you see fit. You may want to sign up for a new health insurance provider, change your current plan, and more. These changes will begin the following year, on January 1, 2023.

What is the open enrollment period?

The open enrollment period is the time of year when you can sign up for health insurance. If you do not have health insurance, this is the time of year when you can get it. If you already have health insurance, this is the time of year when you can renew your plan or switch to a new one.

What are the dates of open enrollment?

The dates of open enrollment vary from year to year, but they usually start in October and end in December.

What are the deadlines for open enrollment?

The deadlines for open enrollment also vary from year to year, but they are typically around the end of December.

What happens if I miss the deadline?

If you miss the deadline, you may not be able to get health insurance until the next open enrollment period.

What should I do during open enrollment?

There are a few things you should do during open enrollment:

• Research your options. This is the time to compare plans and find the one that best meets your needs.
• Get help if you need it. There are many resources available to help you understand your options and make the best decision for you.
• Act fast if you need to make a change. If you find that your needs have changed since last year, open enrollment is the time to make a change.

What are some things to keep in mind when choosing a health plan?

When you’re choosing a plan, consider:

• Your needs. Make sure to choose a plan that meets your needs.
• Your budget. Make sure you can afford the premiums and other costs associated with the plan.
• The network. Make sure the plan has providers that you are comfortable with.

What are retirees options for health coverage?

You have options for health coverage when you retire. Your health insurance can continue through COBRA for up to 18 months after you retire. Most workers sign up for Medicare Part A or B before they retire, so that they do not lose health coverage. Finally, supplemental health care insurance can come into play if you want more coverage than what is being offered.

I’m retired but don’t have health insurance

If for some reason you retired and do not have extended coverage through your previous employer, open enrollment gives you the chance to get health insurance.

My coverage is too expensive

You can reduce or cancel your coverage during non-enrollment times, but you won’t be able to get new coverage except for the open enrollment periods. Try to find ways to cut down your costs until you can enroll in a new plan.

I need more coverage than I initially anticipated

More comprehensive coverage is available during the open enrollment period. Take the time to review different plans and what they offer and be sure to sign up.

What about Medicare?

It is recommended that you should immediately enroll in Medicare Part B once you are eligible, either when you turn 65 or if you are disabled and qualify. Medicare Part B may cover your doctor’s visits, prescriptions, and more, so it will reduce your out of pocket costs.