Top FAQs for Medicare Annual Enrollment Period

Medicare’s Annual Enrollment Period (AEP) runs from October 15 to December 7 each year. This limited-time window is the perfect moment to review and make changes to your Medicare coverage. Although it might seem confusing, understanding AEP is crucial to ensuring you get the most out of your healthcare plan.

What changes can I make during AEP?

During AEP, you have the opportunity to switch from Original Medicare to a Medicare Advantage plan, switch between Medicare Advantage plans, or alter your Part D prescription drug coverage. These changes can help tailor your plan better to your current healthcare needs.

What’s the difference between Original Medicare and Medicare Advantage?

Original Medicare is directly managed by the government and usually comes with separate Part D drug coverage and optional Medigap insurance. On the other hand, Medicare Advantage plans are provided by private insurers. They often bundle medical and drug coverage and may include additional perks like dental or vision care.

Do I need to take any action if I'm happy with my plan?

Even if your current plan suits you well, reviewing your coverage during AEP is wise. Annual changes in premiums, provider networks, and drug formularies can impact your plan's efficiency and cost-effectiveness.

When can I learn about next year’s plans?

Information about plans for the upcoming year becomes available in October. To explore your options, visit Medicare.gov or contact 1-800-MEDICARE for guidance and assistance.

What if I miss the AEP deadline?

If the deadline passes without action, you generally have to wait until the next AEP unless you qualify for a Special Enrollment Period due to specific life events.

Understanding the AEP process empowers you to control your healthcare decisions. Start your research early, use trusted resources like Medicare.gov, and consider consulting a professional. Even a slight modification to your plan can lead to substantial savings or enhanced coverage next year.