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Annual Enrollment Period
What is the Medicare Annual Enrollment Period?
The Medicare Annual Enrollment Period (AEP), is also known as Medicare Annual Election Period, or the Fall Open Enrollment Period. During this period each year, Medicare health and drug plans are allowed to make changes such as cost, coverage, and what providers and pharmacies are in their networks. This time period is also when all people with Medicare can change their Medicare health plans and prescription drug coverage for the following year to better meet their needs.
When is the Medicare Annual Enrollment Period?
Every year it begins on October 15th and ends on December 7th.
What changes can I make during AEP?
1. You can opt-out of a Medicare Part B plan.
2. You can switch from a current Medicare Advantage (Part C) plan back to Original Medicare Parts A and B.
3. You can purchase a Medicare Advantage plan, or switch to a different Part C plan.
4. You can sign up for a prescription drug (Part D) plan, switch from your current plan to a different one, or cancel your current Part D plan without signing up for another.
What are some reasons for changing plans during the Medicare AEP?
You may decide to change your health care coverage during the AEP for certain reasons such as an increase in the price of your current program’s premiums. Some people change plans because their primary health care provider is no longer included in their Medicare plan’s network. Or, you may find that your Part D plan’s formulary no longer covers your medication.
How do I know if I need to change plans?
People in a Medicare health or prescription drug plan should always review the materials their plan sends them, like the “Evidence of Coverage” (EOC) and “Annual Notice of Change” (ANOC). Generally these will come in the mail.
How can Cole Medicare Services help me during the AEP?
Cole Medicare Services can help determine if changing your plan might be in your best interest. We will also search plans and recommend one that will be suitable for your situation.
If you would like Cole Medicare Services to help you in this way, you can click the button below to fill out a simple form. The information you provide will allow us to help you. Once the form is submitted we will get back to with a recommendation as quickly as we can.
The information on this form only goes to Cole Medicare Services and will not be shared with any other individuals or companies.