1. What is the Annual Enrollment Period (AEP)?

AEP, also known as Medicare Open Enrollment, is the period each year when you can make changes to your Medicare coverage. It runs from October 15 to December 7.

2. What changes can I make during AEP?

During this time, you can:

• Switch from Original Medicare to a Medicare Advantage plan or vice versa.
• Change from one Medicare Advantage plan to another.
• Modify your Part D prescription drug plan or drop it entirely.

3. Why is AEP important?

AEP is your opportunity to ensure your Medicare plan meets your current healthcare needs. Your medical and prescription drug needs might have changed, and new plans or better pricing may be available. This is the only time outside of specific exceptions (like special enrollment periods) where you can make significant adjustments to your Medicare coverage.

4. Can I change my Medicare Advantage plan in January?

While you can make some adjustments during the Medicare Advantage Open Enrollment Period (January 1 – March 31), your options are limited compared to AEP. You can only switch between Medicare Advantage plans or go back to Original Medicare, not make changes to Part D coverage.

5. What happens if I don’t make changes during AEP?

If you don’t make any changes during the AEP, your current coverage will automatically continue into the next year. However, you may miss out on better plans or cost savings that could benefit you.

Ready to Make a Change?

With the AEP deadline approaching, it’s crucial to review your current Medicare plan and explore your options. Schedule a consultation with Medicare Insurance Specialists today to ensure your healthcare coverage is optimized for 2025.