For tens of millions of Americans, the annual Medicare Open Enrollment period each fall represents a critical opportunity to review and adjust their healthcare coverage. From November 15 through December 7, beneficiaries can add, drop, or modify their insurance plans—decisions that carry significant financial and medical consequences for the coming year.
In 2021, approximately 63.3 million Americans received coverage through Medicare (commonly known as the "red and blue card" program), including 55.1 million seniors aged 65+ and younger individuals with qualifying disabilities. Participants typically enroll in Medicare Part A (hospital insurance), Part B (medical insurance), and/or Part C (Medicare Advantage), with many adding Part D (prescription drug coverage) and Medigap supplemental policies.
Key Changes Coming in 2022
The Centers for Medicare and Medicaid Services (CMS) has announced several notable adjustments for 2022 coverage:
- Medicare Advantage premiums are projected to decrease to an average of $19/month from $21.22 in 2021
- Part D prescription drug plans will see premiums rise to $33/month from $31.47
- Part B premiums are expected to increase to $158.50/month (standard plan) from $148.50
Critical Considerations During Enrollment
While most beneficiaries will automatically renew their current plans if they take no action, healthcare experts strongly recommend reviewing all options annually. Key evaluation factors include:
1. Prescription Drug Coverage: Carefully verify whether your current medications—particularly maintenance drugs for chronic conditions—remain covered under your plan's formulary, as these lists change annually.
2. Provider Networks: Medicare Advantage enrollees should confirm their preferred doctors and hospitals remain in-network, as plan service areas and participating providers frequently change.
3. Plan Flexibility: Beneficiaries dissatisfied with their Medicare Advantage plans can return to Original Medicare (Parts A and B) during the enrollment window and subsequently add a standalone Part D plan.
Potential Pitfalls to Avoid
CMS warns that some Part D plans may be discontinued, with insurers automatically moving enrollees to different—often more expensive—alternatives. Consumers should:
- Watch for notifications about plan cancellations
- Verify any automatic reassignments
- Compare all available options before the December 7 deadline
Healthcare analysts emphasize that while Open Enrollment occurs annually, Medicare beneficiaries should maintain year-round awareness of their coverage and healthcare needs. Staying informed about market changes enables more strategic decision-making during the enrollment period, ultimately leading to better health outcomes and financial protection.