Fall is the Season to review your Health Insurance Coverage. Two major enrollment periods occur at this time of year: Medicare Open Enrollment and Individual Health Insurance Open Enrollment. While both provide opportunities to review coverage, they apply to different groups and have different rules.
Medicare: October 15–December 7
Medicare Open Enrollment is from October 15 through December 7 each year. This period is primarily for people who are already enrolled in Medicare and want to review or change their coverage for the following year. Changes generally take effect January 1.
During Medicare Open Enrollment, you can switch from one Medicare Advantage plan to another, change Medicare prescription drug plans, or switch from Medicare Advantage to Original Medicare.
If you have Original Medicare (Parts A and B), you may also consider a Medicare Supplement Insurance (Medigap) Policy and a separate Part D Prescription Drug Plan. Medicare Supplement coverage pays certain out-of-pocket costs that Original Medicare does not cover.
It is important to understand that Medicare Open Enrollment is not the same as your Initial Medicare Enrollment. If you are approaching age 65, your Initial Enrollment Period is generally the seven-month period surrounding your 65th birthday; which is three months prior, your birthday month, and three months after. Other enrollment periods may apply depending on your circumstances.
Individual Health Insurance: November 1–January 15
For individuals and families who purchase their own health insurance through the Marketplace / Get Covered IL Open Enrollment for 2027 coverage runs from November 1 through January 15. Enrolling by December 15 generally allows coverage to begin January 1; enrolling by January 15 generally provides coverage beginning February 1.
This is an opportunity to compare plans, premiums, deductibles, provider networks, prescription coverage and out-of-pocket costs. Household income and family size can also affect eligibility for financial assistance, so it is important to update that information when reviewing coverage.
Outside of Open Enrollment, you generally need to qualify for a Special Enrollment Period based on a Qualifying Life such as losing other health coverage, getting married, having a baby or moving.
Take Time to Review
Whether you have Medicare or Individual Health Insurance, don’t simply renew without reviewing your options. Plans, premiums, benefits, provider networks and prescription coverage can change from year to year.
Open Enrollment is a valuable opportunity to make sure your health coverage continues to fit your needs, your budget and your plans for the year ahead.
Here at The Viti Companies, we sell BCBS-IL Medicare Supplement Plans and BCBS-IL Individual Health Insurance Plans. If you believe you qualify for a Tax Credit (based on income) you may apply at www.GetCoveredIllinois.gov
Ester Viti is the Vice President of Viti Financial Services, a subsidiary of The VITI Companies, a third-generation, family-owned independent insurance agency founded by her grandfather in 1938. Since joining the company in 2004, she has been dedicated to delivering customized planning solutions for both individuals and businesses. Ester grew up in Highland Park and now lives in Lake Forest with her husband and three children. You can reach The Viti Companies at 847 432-1000.
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