The Medicare Annual Enrollment Period (also known as the Fall Open Enrollment Period or AEP) runs from October 15 to December 7 each year. This period gives Medicare beneficiaries the opportunity to review their current coverage and make changes. This article will help you better understand what to expect, changes you can make and mistakes to avoid during Medicare’s Annual Enrollment Period.
What Medicare Beneficiaries Can Do During the Medicare Fall Open Enrollment Period
During AEP. Medicare beneficiaries can:
- Switch from Original Medicare (Medicare Part A and Medicare Part B) to a Medicare Advantage Plan
- Change from one Medicare Advantage plan to another Medicare Advantage plan
- Switch from one Prescription Drug plan (Medicare Part D) to another
- Add a Prescription Drug plan if you didn’t enroll when first eligible for Medicare
You should receive an Annual Notice of Change from your provider that will let you know of any changes to your plan, including costs and benefits. Even if you are satisfied with your current coverage, it’s a good idea to consider all of your options.
Mistakes to Avoid During Medicare Fall Open Enrollment
Not taking the time to review your coverage during the Medicare Annual Enrollment Period is a common and critical mistake to make. Not only do Medicare plans change annually, you could be missing out on benefits you deserve.
How to Prepare for the Medicare Fall Open Enrollment Period
The Medicare Annual Enrollment Period is an important opportunity each year for Medicare beneficiaries to review and make changes to their coverage. While you aren’t required to take action, the Medicare Annual Enrollment Period is a great time to make sure you’re getting all of the Medicare benefits you deserve. Whether you’re worried about the continued increase in prescription drug costs or are looking for additional benefits, comparing the plans available to you is a good way to confirm your health and prescription drug needs are covered for the upcoming year.
Let SelectQuote help you find the right Medicare coverage for you.
The Medicare Annual Enrollment Period is one of the best times to review your Medicare coverage and see what plans are available to you. At SelectQuote, we can compare plans from some of the most trusted insurance companies in the nation in just minutes to help you find the right coverage with the right carrier at the right price. There’s no obligation to enroll.