3 Medicare Open Enrollment Myths You Shouldn't Believe

If you're on Medicare, Oct. 15 is an important day -- not just this year, but every year. Oct. 15 is when Medicare's fall open enrollment period begins.

From now through Dec. 7, you can make changes to your Medicare coverage. That means you can switch from one Part D drug plan to another, move from one Medicare Advantage plan to another, or dump Medicare Advantage and go back to original Medicare.

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But if you're not familiar with Medicare's fall open enrollment, you may end up falling victim to bad information. Here are three Medicare open enrollment myths you shouldn't buy into.

1. You can sign up for Medicare for the first time

Medicare eligibility generally begins at age 65. But fall open enrollment isn't the time to sign up for Medicare for the first time if you aren't on it already.

Rather, Medicare open enrollment is for current enrollees, and its purpose is to offer an opportunity to make changes to their coverage. Your initial Medicare enrollment period is different. That window begins three months before the month of your 65th birthday and ends three months after that month.

2. You shouldn't switch your coverage if you like your current plan

Some seniors complain that their Medicare costs are too high, or that they don't like their health coverage. But you may not be one of them.

It may be that you're thrilled with your Medicare Part D plan because the drugs you take are grouped into a tier that leaves you with very low costs. Or, it may be that you're super happy with your Medicare Advantage plan because it offers a lot of supplement benefits that make your life easier and has plenty of great doctors in network.

But just because you're happy with your current Medicare coverage doesn't mean you shouldn't at least look into making a switch. For one thing, there may be a less expensive Medicare plan out there for you, even if there's nothing wrong with the plan you already have. Also, your current plan may be changing in the new year, and not for the better.

Medicare plans change all the time. It's possible that the doctors you love seeing won't be in network for your current Medicare Advantage plan in 2026. Or it may be that certain medications you take will fall into a different coverage tier, resulting in higher costs that put a strain on your retirement savings.

Before you decide that you aren't going to make a switch, do two things. First, read your current plan's annual change notice to see what looks different for 2026. Next, compare plan options to see if there's coverage out there that could be a better fit.

You may decide to stick with your current Medicare plan after going through these exercises. But at least then you can make your decision with more confidence.

3. If you don't make a change now, you're stuck for all of 2026

There's a reason retirees are encouraged to take advantage of Medicare's open enrollment period. You don't want to spend all of 2026 stuck with a plan you hate.

But even if you don't make a change this fall, you're not necessarily stuck with your coverage for the entirety of 2026. That's because Medicare Advantage has its own open enrollment period that runs from Jan. 1 through March 31 each year. During that time, you can make changes to your Medicare Advantage plan if you miss the boat in the fall or learn later on that you made a poor choice.

There's a good chance that healthcare is one of your biggest retirement expenses. So it's important to take full advantage of Medicare open enrollment while you can. Not only might making a change save you money on healthcare expenses, but it might also lead to better care. And that could be your ticket to enjoying your senior years to the fullest.

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