Medicare open enrollment begins Oct. 15. Here's what consumers need to know.

Medicare’s annual open enrollment period begins October 15 and, given the COVID-19 pandemic, financial planners are urging beneficiaries to review and choose the plan that best suits their health care needs. By way of background, Medicare health and drug plans can make changes to costs, coverage, and providers and pharmacies in their networks each year, according to the Centers for Medicare & Medicaid (CMS). And October 15 to December 7 is the period when all people with Medicare can change their Medicare health plans and prescription drug coverage for the following year.