5 Things To Know About Medicare Annual Enrollment Period (AEP)

The fall Medicare Open Enrollment Period is also known as the Annual Enrollment Period, or AEP.

For many Medicare beneficiaries, AEP is the only time they can make changes to their Medicare health plan and/or Medicare prescription drug coverage for the upcoming year - and it is happening right now. If you are interested in enrolling or switching to a new Medicare Advantage plan, now until December 7th is your chance.

Call 844-919-3456 to speak with a licensed insurance agent about your enrollment options or visit MedicareAdvantage.com today to start comparing plans online.

Want to know more about AEP before you get started? No problem! Below are five important things to know about the Medicare Annual Enrollment period known as AEP.

1. The Medicare Annual Enrollment Period takes place every fall

AEP takes place every year. It starts on October 15th and ends on December 7th.

Many insurance companies selling private Medicare plans have agents available 24 hours per day, seven days per week during AEP.

If you’re reading this, you’re in luck! The Medicare Annual Enrollment Period is currently happening, which means that you can switch or change your Medicare Advantage coverage options for next year. This window will close on December 7th, so if you want to see what your options are, you can get started online in 3 simple steps.We make it easy to compare plans side by side and apply online right over your phone, tablet or computer.

Prefer to speak with someone over the phone? We’ve got you covered. Simply call 844-919-3456 to speak with a licensed insurance agent about your options with no obligation to enroll. All you need is your ZIP code to get started!

2. It’s the only time of year many Medicare beneficiaries can make changes to their coverage

For many beneficiaries, AEP represents the only time of year to make any changes to Medicare Advantage (Medicare Part C) coverage or a Medicare Part D prescription drug coverage plan.

There are other Medicare enrollment periods throughout the year, but you only qualify to make changes to your coverage during those times under certain specific circumstances. AEP, on the other hand, is open to all Medicare beneficiaries every year.

Medicare Advantage plans offer a way of combining your Original Medicare (Part A and Part B) benefits into a single plan sold by a private insurance company. Medicare Advantage plans can also offer benefits not found in Original Medicare.

Want to learn more about how to enroll in a Medicare Advantage plan? Our MedicareAdvantage.com expert and licensed insurance agent, Christian Worstell, helps simplify it for you in this video.

Medicare Part D plans provide coverage exclusively for prescription medications and can be used in conjunction with Original Medicare coverage or with a Medicare Advantage plan that doesn’t include prescription drug coverage. If you’re interested in a Medicare Part D plan, call 844-919-3456 to speak with a licensed agent about plans available in your area.

3. There are a number changes you can make to your Medicare Advantage or Medicare drug coverage during AEP

There are a number of changes you can make to your Medicare coverage during AEP.

• Enroll in a Medicare Advantage plan.
• Switch from one Medicare Advantage plan to another.
• Drop a Medicare Advantage plan and return to Original Medicare. (If you do this, you also have the option of adding a Medicare Part D plan.)
• Enroll in a Medicare Part D plan.
• Switch from one Medicare Part D plan to another.
• Drop a Medicare Part D plan. (If you do this, you also have the option to add a Medicare Advantage plan that includes prescription drug coverage.)

Any changes made to your Medicare coverage during AEP will typically become effective on January 1 of the upcoming year.

Do you want to make one of the changes above to your Medicare coverage? Now is the time! Click here to get started in 3 simple steps on MedicareAdvantage.com or call 844-919-3456 to speak with a licensed insurance agent.

4. AEP does not apply to Medigap or Original Medicare

AEP applies specifically to Medicare Advantage or Medicare Part D plans. It does not apply to Medicare Supplement Insurance, also known as Medigap, nor does it apply to Original Medicare enrollment changes.

You can enroll in Original Medicare for your first time during the time that AEP is happening, and/or you can apply for a Medicare Supplement plan during AEP. These actions, however, are not determined by AEP, and you don’t have to wait for AEP to apply for Medicare Supplement plans or Original Medicare, if you’re eligible.

Medigap is a type of private Medicare insurance. It provides coverage for Original Medicare out-of-pocket expenses like deductibles, copayments and coinsurance. You can technically enroll in, switch or drop Medigap plans at any time. However, the best time to do so is when you have guaranteed issue rights.

Medicare Supplement insurance and Medicare Advantage are two very different types of insurance. You can’t have each type of plan at the same time. To learn more about this, you can watch Christian break it down for you even further in this quick video!

5. You don’t have to navigate AEP alone (nor should you)

You don’t have to navigate your way through AEP alone. And it’s not recommended that you try.

The Medicare Advantage plans available where you live may be different, and sometimes those differences can be subtle. There are eligibility requirements, copays and other costs that can vary from one plan to the next.

It’s a lot to tackle, especially for those doing it for the first time. That’s why it’s recommended that you reach out to a licensed insurance agent at 844-919-3456 who can help you shop and compare plans available where you live, confirm your eligibility, answer any questions you may have and get you enrolled in the plan of your choice right over the phone if you’re eligible.

Visit MedicareAdvantage.com to compare Medicare Advantage plans online now or call 844-919-3456 to speak with a licensed insurance agent, so you make the most of AEP this year before it ends on December 7th.

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Enrollment in the described plan type may be limited to certain times of the year unless you qualify for a Special Enrollment Period.