Medicare Advantage Plan Enrollment
Medicare Annual Enrollment Period (AEP)
The Medicare Annual Enrollment Period (AEP) is a vital opportunity for beneficiaries to review and adjust their healthcare coverage. Taking place every fall, this period allows individuals to make changes that better align with their healthcare needs and financial considerations.
Key Benefits of the Annual Enrollment Period:
- Switch between Original Medicare and Medicare Advantage based on your preferences.
- Enroll in, modify, or cancel your Medicare Part D prescription drug plan.
- Stay informed about annual updates to Medicare Advantage and Part D plans.
The AEP runs from October 15 to December 7 each year, with any changes taking effect on January 1 of the following year.
Who Is Eligible for AEP?
To participate in AEP, you must be enrolled in Original Medicare (Parts A & B). However, individuals with qualifying alternative coverage, such as an employer-sponsored health plan, may not be eligible to make changes during this period. In such cases, enrollment may only be possible during a Special Enrollment Period or the General Enrollment Period.
Ensuring you understand your options during AEP can help you secure the best coverage for your healthcare needs.
