Did you know that every September there is a National Medicare Education Week? It's perfect timing too, because Open Enrollment starts October 15th.

About 10,000 baby boomers are turning 65 each day, according to the Pew Research Center. That means a lot of us are becoming eligible for Medicare - the national health insurance program that assists us in covering our healthcare expenses once we turn 65 - in addition to the many of us that are already enrolled in a Medicare program. Medicare Made Clear, an organization that helps you navigate the "Medicare maze" reports that 7 in 10 baby boomers have a fair or poor understanding of how Medicare works. If you fall into that boat, don't panic. Many resources are available to help.

During National Medicare Education Week, you can find local events to help you make educated decisions about Medicare. As we mentioned, Medicare's Open Enrollment period starts October 15th and goes until December 7th. This is a very important time-period, during which you can make key changes to your policy for your upcoming coverage. It's a good idea to prepare yourself ahead of time, so that you're not rushing through important information or making changes last minute that may not be the best for you.

During open enrollment, you have the opportunity to change plans. This means if you have traditional Medicare coverage, you can explore Medicare Advantage plans or vice versa. You can also make changes to your prescription drug coverage.

The point of open enrollment is for you to tailor your coverage to help minimize your total out-of-pocket costs. Don't make the mistake of focusing solely on the lowest premiums, as less comprehensive coverage could end up costing you more. Your decision will be guided by your current health, along with your health expectations for the coming year. A generally healthy person versus a person with a chronic condition will have very different needs. Being able to change coverage from year to year is helpful as your health changes through the years. While it's tempting to be lazy and stick with the same coverage, that's not a good idea if your health has changed.

New legislation and changes to the Medicare program make research even more critical if you’re shopping for a plan this fall. Starting January 1, 2020, The Centers for Medicare and Medicaid Services (CMS) will limit who can enroll in Medigap Plans F and C. Medigap is a Medicare Supplement Insurance policy that can help pay costs that Medicare may not. Check out Medicare supplement plans like, Accendo Medicare supplement, or learn more about Medigap here.

We understand some of the information can be overwhelming or confusing. If you need additional help, don't be afraid to utilize free resources, such as the Medicare Rights Center.