Medicare Basics - Medicare is not free, with estimated average annual healthcare costs of $6,400 [2] - Unlike employer health insurance, Medicare plans are individual, requiring each spouse or partner to enroll separately [2] - Enrollment should occur three months before turning 65 or when employer healthcare ends to avoid late enrollment penalties [2][3] - Original Medicare consists of Part A (hospital insurance) and Part B (medical insurance) [4] Medicare Parts & Coverage - Part A covers hospital visits, treatments, procedures, and hospice care, typically without a premium but with a deductible per hospital visit [4] - Part B covers doctor visits, outpatient care, physical therapy, lab tests, and medical equipment, with a monthly premium based on income and 20% cost-sharing for medical services [5] - Part D covers prescription drugs, requiring selection of a provider whose plan covers needed medications, with premiums and deductibles [8] - Medigap policies can be purchased to cover out-of-pocket costs related to Parts A and B, providing more predictable expenses [7] Medicare Advantage (Part C) - Medicare Advantage (Part C) is an all-in-one managed care plan that combines coverage from original Medicare, Medigap, and potentially Part D, vision, and dental [10] - Medicare Advantage plans require using in-network doctors and providers [10] Enrollment & Cost Saving Tips - Social Security should be contacted to enroll in Parts A and B, with premiums often deducted from retirement benefits [6] - Individuals should check eligibility for low-income discounts and enroll in each Medicare part on time to avoid penalties [14]

Core Points - Medicare open enrollment occurs from October 15 to December 7, allowing over 66 million Americans to make changes to their coverage for the upcoming year [1][2] - This period is crucial as it is the only time beneficiaries can alter their coverage unless they qualify for a special enrollment period [2][18] Enrollment Details - During the open enrollment, beneficiaries should review materials regarding eligibility and plan changes, typically titled "Evidence of Coverage" (EOC) or "Annual Notice of Change" (ANOC) [3] - Beneficiaries can switch between traditional Medicare and Medicare Advantage plans, enroll in a Medicare Part D plan, or change their existing Part D plan [7] Medicare Plan Types - Traditional Medicare covers hospital stays (Part A) and doctor visits (Part B), with most beneficiaries not paying premiums for Part A but incurring costs for Part B and other services [4][5] - Medicare Advantage plans, offered by private insurers, bundle various Medicare parts and often include additional benefits like dental and vision coverage, but may limit provider choices [6] Future Changes - Starting in 2026, out-of-pocket costs for prescriptions under Medicare's drug plan will be capped at $2,100, with the maximum Part D deductible increasing from $590 to $615 [9] Coverage Components - Medicare consists of several parts: Part A covers inpatient care, Part B covers medically necessary services, Part C is Medicare Advantage, and Part D covers prescription drugs [10][11][12][13][14] - Standard Medicare does not cover certain services such as routine eye exams, dental care, and cosmetic surgery [15] Special Enrollment and Initial Enrollment - Special enrollment periods may apply for beneficiaries who experience specific life changes, such as moving or losing employer-sponsored coverage [18] - New Medicare enrollees have an initial enrollment period that spans three months before and after their 65th birthday [19] Government Shutdown Impact - Medicare open enrollment for 2026 will proceed as scheduled despite a federal government shutdown, with benefits and coverage remaining unaffected [20][21]