Over 65+
The period from October 15th to December 7th each year is known as the Annual Election Period (AEP) and provides an opportunity for individuals to switch from their current Medicare plan to a new one.
The Annual Election Period (AEP) offers several options to Medicare beneficiaries, including:
- Switching from Original Medicare to a Medicare Advantage plan.
- Changing from a Medicare Advantage plan back to Original Medicare, with or without a Supplement to cover the coverage gap.
- Switching from one Medicare Advantage plan to another.
- Enrolling in a new Medicare Part D plan for prescription drug coverage.
Moreover, during the AEP, plan benefit changes for the upcoming year are released, allowing beneficiaries to evaluate their benefits for the following year and ensure that their needs are adequately covered. It is important to review and make necessary changes during AEP to maximize the benefits of Medicare coverage.
We have developed a helpful printable checklist to guide your decision.
During the Medicare Annual Election Period (AEP), some questions you may want answers to include:
- Will all of my current medications still be covered by my plan or will I need to find new Part D coverage?
- Is my Part D premium going to increase in the upcoming year?
- Should I cancel my current Part D coverage or consider getting it if I don’t currently have it and determine that I need it?
- If I’m on an Advantage plan, will my doctor be in the network next year? If not, what are my alternative options?
Each year in September, you will receive an Annual Notice of Change letter in the mail that explains all the changes that will be impacting your plan for the upcoming year.
Since the AEP only occurs once a year and is a brief period, it is essential to contact us early and frequently to ensure that you make well-informed decisions that suit your specific requirements. We are here to support you in making the most of your Medicare coverage.
