What Can You Do During Medicare AEP?

As you might already know, the Medicare Annual Enrollment Period will begin on October 15. But what should you do during Medicare AEP? Perhaps more importantly, what can’t you do? Understanding the actions you can take, along with the limitations of AEP, can help you to make wise decisions at this time.

First, let’s talk about what you can do during the Annual Enrollment Period. Between October 15 and December 7, you can…

• Drop Original Medicare and enroll in a Medicare Advantage plan
• Drop your Medicare Advantage plan and go back to Original Medicare
• Compare premiums and out-of-pocket expenses of different Medicare Advantage plans, to identify one that suits your needs
• Change from one Medicare Advantage plan to another
• Add a Part D (prescription) plan to Original Medicare, drop a Part D plan, or switch from one Part D plan to another

At some point during the past month, you probably received an annual notice of change letter from your current plan administrator. This notice details any upcoming changes that will be made to your current plan, so that you can evaluate whether it still fits your needs and budget. Even if you feel satisfied with this plan, it would be wise to shop around and compare it with others that are available to you. You never know if there’s a better fit out there, until you look!

As you can see, you can take a number of actions during AEP. But you can’t enroll in a Medigap plan at this time. When you first became eligible for Medicare, you enjoyed a six-month window of time during which you could enroll in a Medigap plan without answering questions about your health. If you want to enroll later, you must answer those questions (and there is no guarantee that you will be eligible for coverage). That’s why the best time to evaluate your Medigap options is during your original enrollment period.

Remember, the Medicare Annual Enrollment Period begins October 15 and will last through December 7. If you have any questions about what you should do next, call our office and we’ll be happy to assist you.