Open Enrollment Period for Medicare

From January 1 to March 31 of each year Medicare has Open Enrollment. This means that folks on Medicare can make a change to their insurance, on what is called a like to like basis. Medicare beneficiaries cannot choose stand alone Rx coverage if they don't have it now. They are, however able to sign up for it if they want to drop coverage with Medicare Advantage plan that had Rx coverage included. Unlike the Annual Election Period, where people can elect Medicare advantage, Rx coverage, and make changes before Jan 1, they can only make one change at this time.