Missed Medicare Open Enrollment? What Retirees Can Do Now

Every year, Medicare Open Enrollment runs from October 15 through December 7, and every year, millions of retirees miss the deadline. Maybe life got busy, health issues came up, or you simply didn’t realize how quickly the window would close. Whatever the reason, if you’re reading this shortly after Open Enrollment ended—or already into the new year—you are not out of options.

The period immediately after Open Enrollment is one of the most important times for retirees to assess their coverage, identify potential gaps, and make a plan for the new plan year. Even though you can’t make the same changes you could during the fall enrollment window, you still have meaningful opportunities to improve your Medicare coverage, reduce out-of-pocket costs, and protect your retirement income.

Below, we break down exactly what retirees can do after missing Medicare Open Enrollment and how to move forward with clarity and confidence. 

1. Understand the Impact of Missing Open Enrollment

When you miss Medicare Open Enrollment, your current Medicare Advantage or Part D prescription drug plan automatically renews with its updated premiums, deductibles, formularies, and provider networks.

This may mean:

• Higher monthly premiums
• Certain medications becoming more expensive or no longer covered
• Doctors leaving your plan’s network
• New copays or prior authorization rules
• More risk of unexpected medical bills

These updates take effect at the start of the new plan year, so reviewing your coverage as soon as possible helps prevent surprises and allows you to take action where options still exist.

Missing the window is common—and completely fixable—but it requires timely review and planning.

2. Review Your Updated Coverage Immediately

Your plan’s changes are already in place (or will be as soon as the new year begins). Now is the time to examine how your coverage will function so you can adjust your healthcare budget accordingly.

Review the following:

• Your Annual Notice of Change (ANOC)
• Updated premium costs
• Deductibles and copays
• Changes in your drug formulary
• Your plan’s preferred pharmacy list
• Any adjustments in doctor or hospital networks
• New out-of-pocket limits

Understanding these changes now provides a smoother experience through the new plan year and helps you avoid unnecessary costs that can chip away at retirement income.

3. Use the Medicare Advantage Open Enrollment Period (MA OEP)

If you are enrolled in Medicare Advantage, you automatically receive a second chance to adjust your coverage each year.

Medicare Advantage Open Enrollment

January 1 – March 31

During this period, you can:

• Switch to a different Medicare Advantage plan
• Drop Medicare Advantage and return to Original Medicare
• Add a Part D prescription drug plan (if returning to Original Medicare)

This is your best opportunity to correct coverage issues discovered after Open Enrollment closed.

MA OEP is especially valuable if:

• Your doctor is no longer in network
• Your prescription costs increased
• Your plan’s benefits changed unexpectedly
• You want more predictable costs or broader provider access

Important: You only get one plan change during MA OEP—so research your options carefully.

4. See If You Qualify for a Special Enrollment Period (SEP)

Some retirees can make changes outside the standard enrollment windows if they qualify for a Special Enrollment Period.

You may qualify for an SEP if:

• You moved outside your plan’s service area
• You lost employer or union group coverage
• Your plan ended its contract with Medicare
• You qualify for Medicaid
• You receive Extra Help for prescriptions
• You entered or left a skilled nursing facility
• You experienced an exceptional circumstance

If you qualify, you may be able to make Medicare changes immediately, even if Open Enrollment has ended and MA OEP hasn’t begun yet.

5. Lower Prescription Costs Even Before You Can Change Plans

Prescription drugs often produce the biggest financial shock after missing Open Enrollment. Even if you cannot change plans yet, there are ways to reduce costs:

• Ask your doctor about lower-cost alternatives
• Request 90-day supplies for chronic medications
• Use mail-order pharmacy options
• Compare pricing at different pharmacies
• Explore manufacturer discount programs
• Check your plan’s preferred pharmacy list

These adjustments help stabilize your spending until you can make more permanent changes during an enrollment period.

6. Evaluate Whether a Medigap (Medicare Supplement) Plan Makes Sense

If you’re on Original Medicare, you can apply for a Medigap plan any time of year. Even though underwriting may apply, Medigap can provide substantial protection against unexpected out-of-pocket costs.

Medigap may be beneficial if you want:

• More predictable annual healthcare expenses
• Reduced exposure to large hospital bills
• Flexibility in choosing doctors or specialists
• Long-term cost stability

Since Medigap enrollment isn’t tied to the fall Open Enrollment period, this is one area where retirees can still take action immediately.

7. Build a Better System for Next Year’s Enrollment

Missing Open Enrollment once is normal. Missing it again can create significant financial strain.

Start preparing now by:

• Setting reminders beginning in September
• Reading your Annual Notice of Change as soon as it arrives
• Tracking prescription changes during the year
• Keeping updated lists of preferred doctors and pharmacies
• Scheduling a Medicare review call earlier in the fall

The key is building a process that makes Open Enrollment easier and more manageable next time.

8. Protect Your Retirement Income Going Into the New Plan Year

Healthcare is one of the most unpredictable expenses in retirement. When Medicare plan changes aren’t reviewed, retirees may experience unexpected medical bills that disrupt cash flow.

Heading into the new year, consider:

• Reviewing your income strategy for predictability
• Adjusting your budget for expected medical costs
• Evaluating whether guaranteed income products can stabilize long-term planning
• Reassessing emergency savings
• Ensuring rising healthcare costs are reflected in your retirement projections

A Medicare decision is never just about healthcare—it’s a core part of long-term financial security.

Tootsie’s Takeaway 🐾

Missing Medicare Open Enrollment isn’t a disaster — even I’ve been known to snooze through something important. What matters is what you do next. Take a little time to review your plan, explore the options you still have, and make adjustments that keep surprises (and unnecessary expenses) out of the new year. A few smart moves now can go a long way — kind of like hiding treats in all the right places… future you will thank you

Written by Brent Meyer, founder of SafeMoney.com. With more than 20 years of experience helping families navigate retirement and legacy planning, Brent is committed to making financial education simple, clear, and trustworthy.

Disclaimer: This article is for educational purposes only and does not provide tax, legal, or investment advice. Always consult a licensed professional regarding your personal situation.