Home Medicare AEP: What You Need to Know

AEP: What You Need to Know

Each year, the Medicare Annual Enrollment Period runs from October 15th to December 7th. You may change your Medicare health or drug plans during this time, such as switching, adding, or dropping plans. Any modifications made during the Annual Enrollment Period take effect on January 1st of the next year.

Why Would I Want to Switch Plans? 

Companies that offer Medicare Advantage (Part C) and Medicare Part D plans may make changes for the coming year. Your provider will send you an annual notice of change (ANOC) form before these changes are implemented, explaining the changes being made. These can impact your plan’s cost, coverage, and which healthcare providers and pharmacies are considered “in-network” for your plan. Therefore, it may be in your best interest to take advantage of AEP and get a new healthcare plan. 

What Changes Can I Make During AEP?

You can switch from the Original Medicare (Part A and Part B) to a Medicare Advantage plan during AEP. You can also go from a Medicare Advantage plan back to Original Medicare. 

You can also change from one Medicare Advantage plan to another that may or may not have prescription drug coverage. You can also enroll in, change, or drop a Part D prescription drug plan.

Learn More Today! 

With the help of our agents, we can help you figure out which Medicare plan will fit your needs the best. We’ll ensure you get a plan that fits your budget, includes coverage for your specific prescriptions, and includes your doctors in its network.
To learn more about what Kannonball Insurance can do for you and your Medicare needs, give us a call today!