Medicare's Annual Election Period Begins Today!

For all Medicare beneficiaries, today marks the start of the Annual Election Period (AEP)—the one time each year when you can make changes to your Medicare Advantage (Part C) and Prescription Drug (Part D) coverage for the coming year, unless there is another qualifying Special Election Period (SEP). 

The AEP Timeline: When You Can Make a Change

The Medicare Annual Election Period is a specific window set by the federal government every year. You have over seven weeks to review your options:

• The AEP opens today: October 15

• The AEP closes: December 7

Any selections you make during this period will become effective on January 1 of the next calendar year. If you are happy with your current plan and it is still being offered, you do not need to take any action; your plan will renew automatically, and your updated cards should arrive by early January. 

Why Review Your Medicare Plan?

Taking the time to review your Medicare coverage is an important step in managing your health care costs and access. Many beneficiaries find that reviewing their options leads to better benefits or lower costs for the next year.

1. Plan Benefits Can Change

Insurance companies often adjust their Medicare Advantage and Medicare Part D Prescription Drug plans from year to year. Even if you loved your plan last year, you should look closely at what’s changing for the coming year.

• Annual Notice of Change (ANOC): Your plan sends this document to you every fall. It outlines all the changes to your costs, benefits, and prescription changes for the next year.

• Drug Coverage: The list of covered drugs (formulary) often changes. A medication that was low-cost this year might move to a higher cost tier next year.

• Doctor Networks: Confirm that your current doctors, specialists, and hospitals are still included in your plan’s network.
  
  

2. Your Needs May Have Evolved

Your health and financial situation may be different than it was a year ago. A plan that was a great fit before might not be the best choice now. Consider whether you have new prescriptions, anticipate new medical needs, or have changes to your budget.

What Changes Can Medicare Beneficiaries Make?

During this open window, you have the flexibility to make key changes to your coverage:

• Switching Health Plans: You can switch from Original Medicare (Part A & Part B) to a Medicare Advantage (Part C) plan, or switch from a Medicare Advantage plan back to Original Medicare.

• Changing Medicare Advantage Plans: You can switch from your current Medicare Advantage plan to a different Medicare Advantage plan.

• Prescription Drug Coverage: You can enroll in a stand-alone Medicare Part D Prescription Drug Plan (if you have Original Medicare), or you can switch from one Part D plan to another.

A Note on Medigap: The AEP is specifically for changing Medicare Advantage and Part D plans. It is generally not a time to change your Medicare Supplement Insurance (Medigap) policy.

Understanding how changes to plans might affect your wallet or your access to doctors can be confusing. That's where we can help.

Let one of our licensed Medicare sales agents help you confidently compare your options for the new year.

Our agents can provide you with a side-by-side comparison of plans available in your area to see which one best covers your specific doctors and prescriptions.

📞 Call us today at 1-855-952-1941 (TTY: 711) or schedule an appointment! There is no cost for this consultation, and you are under absolutely no obligation to enroll. We are available Monday through Friday from 8 AM to 8 PM (CST) and weekends by appointment. We look forward to speaking with you!