Medicare Open Enrollment Begins: What You Need to Know

AUSTIN, Texas – Open enrollment for Medicare began earlier this week.

Michelle Davis joins FOX 7 Austin’s Mike Warren to discuss what you need to know.

MICHELLE DAVIS: I’m actually with the Area Agency on Aging. We are members of the Aging Services Council and open enrollment for Medicare began last Tuesday. We get a lot of calls about open enrollment and what needs to be done. Basically, open enrollment is for those who want to look at other plans to make sure their medical needs are met. You don’t have to change your plan if you don’t want to. But we have the opportunity to help them choose a different plan that better suits their needs and ensure they are well taken care of.

MIKE WARREN: How long does open enrollment actually last?

MICHELLE DAVIS: Open registration is available from October 15th to December 7th. You can make all your changes there. There is also a second open enrollment specifically for a Medicare Advantage plan. So that’s January 1st to December, sorry, January 1st to March 31st. And you can convert Medicare Advantage plans to other Advantage plans. So back then there were actually two.

MIKE WARREN: For those who are already insured. What should you pay attention to when extending your plan?

MICHELLE DAVIS: In order. So basically the deductible. So, for example, if they suddenly have higher out-of-pocket costs, especially for drug insurance, if they have a drug plan or a benefit plan, you can call one of us here Find out more about aging at your local agency and talk to one of us and make sure the plan you have is the best plan for your needs. There will be some changes in 2025. One of them is the donut hole that quite a few people fall into with their medication. This actually disappears. And there is a new plan. It’s called the Medicare Prescription Payment Plan. It is a new payment option for prescription drugs. If your out-of-pocket prescription costs are $2,000 during the year, the amount will be capped at $2,000 and this payment will be spread out over the year. So you won’t have to pay big payments and other things for your Medicare drug insurance.

MIKE WARREN: Where can you get more information?

MICHELLE DAVIS: Well, you can call us here at the Area Agency on Aging. Our phone number is 512-916-6178. And I or two other of our performance consultants will be happy to help you.

MIKE WARREN: Okay, great. Michelle Davis from the Aging Services Council, thank you for joining us.

MICHELLE DAVIS: Thank you.