Why Medicare Annual Enrollment Period (AEP) is a Big Deal

Senior couple Medicare Annual Enrollment Plan

Medicare Annual Enrollment Period is just around the corner. It’s your once-a-year opportunity to make adjustments to your existing Medicare plan…

Jack and Sarah both enrolled in original Medicare last year. Their biggest worry? Not having dental coverage.

During decades of work and raising their family, they enjoyed the benefits of dental insurance. Now, without benefits, they’re waiting as long as possible between cleanings.

Plus, Jack needed a root canal several months ago — some coverage would’ve been nice to offset that expense!

They know Annual Enrollment Period starts October 15, so Jack and Sarah are getting ready to add dental through a Medicare supplement plan.

What you need to know about Medicare Annual Enrollment Period (AEP)

Medicare Annual Enrollment Period happens every year, in the fall, and lasts for three months.

During AEP, Medicare recipients can make changes to their plans. It’s a time to explore different options based on personal preferences or in response to adjustments within the Medicare system (such as changes to network-approved pharmacies and providers).

Plan adjustments you can make during AEP

When AEP rolls around, you may choose to leave your existing coverage as-is. And that’s fine. But if you want to make changes, you can…

  1. Switch from your original Medicare plan to Medicare Advantage (Part C).
  2. Swap out your existing Medicare Advantage plan for a Medicare supplement policy (that may include dental and vision)
  3. End, add or sign up for a Medicare (Part D) drug plan

Not sure where to start? You don’t have to go this alone. Your Licensed Medicare Specialist can walk you through the ins and outs of your Medicare options.

Important dates to put on your calendar

If you want to make changes to your Medicare plan during AEP, mark these dates:

  • October 15: AEP begins
  • December 7: AEP ends
  • January 1, 2019: Changes made to a plan during annual enrollment take effect.
  • January 1 – February 14: Dis-enrollment period — this is when you can make changes to the plan you signed up for in the fall. You can:
    • Drop your Advantage plan and enroll in original Medicare
    • Add the Medicare (Part D) drug plan (if you enroll in original Medicare)

With AEP just around the corner, this is a good time to take a look at your current plan, decide if it will meet your needs for the upcoming year and look into making any changes.

Need to adjust your Medicare plan during this year’s AEP?

The My Senior Health Plan team can answer all your questions and guide you through the process.

Call today toll free: 877.255.6273

2018-08-20T13:03:32+00:00August 20th, 2018|Senior Health Insurance|Comments Off on Why Medicare Annual Enrollment Period (AEP) is a Big Deal