The Medicare annual enrollment period (AEP) is the time each year when individuals with Medicare can make changes to their health insurance coverage for the upcoming year. It runs from October 15 to December 7.
During the AEP, individuals can make the following changes to their Medicare coverage:
- Switch from Original Medicare to a Medicare Advantage plan, or vice versa
- Switch from one Medicare Advantage plan to another
- Join or switch to a Medicare prescription drug plan
- Drop a Medicare prescription drug plan
It is important to review your coverage each year during the AEP to make sure your current plan still meets your healthcare needs and budget. If you do not make any changes during the AEP, your current coverage will automatically renew for the upcoming year.
Before making any changes to your coverage, it is important to review your current plan’s costs, benefits, and network of doctors and hospitals. You should also consider your expected healthcare needs for the upcoming year.
It is important to note that there are some changes you can make outside of the AEP, such as if you move to a new area, lose your current coverage, or qualify for a special enrollment period. However, these opportunities to make changes are limited, so it is best to review your coverage and make any necessary changes during the AEP.
To make changes to your Medicare coverage during the AEP give Lynn Kempel MEDICARE SOLUTIONS a call today at (815)801-7010. We are here to Make Medicare Easy for you!