What is the Medicare Annual Election Period
Many clients have asked us, what is the Medicare Annual Election Period. Medicare’s Annual Election period is from October 7th to December 15th of each calendar year. During this time of year, a Medicare beneficiary can change their Medicare health plans and prescription drug coverage for the following year to better meet their needs, Medicare health plans and Medicare prescription drug plans make changes each year to cost, benefits, coverage, and the plan’s network of doctors, hospitals and pharmacies.
When you have Original Medicare, during the Annual Election Period (AEP) you can leave Original Medicare and enroll in a Medicare Advantage Plan. If you have enrolled in a stand-alone Prescription Drug Plan, you can switch to a different Prescription Drug Plan.
If you are enrolled in a Medicare Advantage plan during the AEP. You can switch from one Medicare Advantage plan to another Medicare Advantage plan. You can also drop your Medicare Advantage plan and revert to Original Medicare. If you choose to revert to Original Medicare, you can also enroll in a stand-alone Prescription Drug Plan and apply for a Medicare Supplement Plan.
Beneficiaries will be receiving materials from their current plan. They will include Evidence of Coverage (EOC) and Annual Notice of Change (ANOC). These documents should be reviewed to find out if the plan is changing. You’ll want to make sure the plan still fits your needs for the upcoming year. If you do nothing, you will continue with the same plan you had the previous year.
By Joe DeAngelis
Medicare Supplement Adviser
“We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options.”