Next Tuesday begins Medicare's Open Enrollment period (October 15 - December 7). The Open Enrollment is a time for Medicare beneficiaries to review costs and/or coverage from their Medicare plan. Changes can be made to the health plan and/or the prescription drug plan.
With the Health Insurance Marketplace opening on October 1, and having a deadline of December 15 in order to get a plan by January 1, it could be easy to compare the two. And, it's easy to get confused! For individuals who have Medicare, it is not likely that they would also need to enroll in the Health Insurance Marketplace. According to the National Council on Aging (NCOA), if you are already enrolled in Medicare Part A and/or Part B, you do not qualify for health insurance through the Marketplace. More information on Medicare and the Marketplace, specifically for adults age 65 and older, can be found here. If you are ages 55-64 and are looking to purchase a Marketplace plan, but are wondering how it will work with Medicare when you are eligible, you can view more information here.