Medicare’s Annual Election Period starts on October 15th and ends on Dec 7th. Many people refer to this time as “open enrollment” but the proper name for it is the Annual Election Period or AEP for short.
Click here for our AEP Enrollment Toolbox page
What is AEP?
During Medicare’s AEP Open Enrollment you can switch your Part D or Medicare Advantage (MA) plan.
Since MA or drug plans can change their formularies (list of covered drugs) each year, this is a good time to shop to make sure you have the best plan. Your Medicare Advantage plan can also change their network of doctors and facilities, change the way they cover a medical service, and/or drop additional benefits like dental, vision and hearing. This is the time to switch.
Learn More about Medicare Advantage Get an MA Quote
Learn More about Medicare Prescription Drug Coverage Get a Part D Quote
When is AEP?
Medicare’s Annual Election Period Open Enrollment is October 15 -December 7. The effective date of any enrolled plan during this period will be January 1st.
Doesn’t Medigap have an Open Enrollment?
No. Medigap doesn’t have an Open Enrollment. Medigap has an initial enrollment period but there is not anationwide Medigap switching period.
You can switch from one Medigap plan to another at any time, but you will usually have to answer medical questions. Those medical questions can disqualify you from switching plans. That being said, if you plan on moving from MA to Medigap, this is the best time to do it as you can disenroll in MA and start your Medigap on Jan 1. Call us for help with this one at 800-930-7956
Can I Switch MA plan outside of AEP?
The answer is yes. If you moved out of your plan’s area or your plan mislead you, you can switch. There is also a separate period called Medicare Advantage Open Enrollment from Jan 1 – March 31st where you can switch to a different Medicare Advantage Plan or disenroll from your MA plan and go back to Original Medicare.
For most other times, you cannot switch MA plans unless you qualify for the Medicare 5-star rule. This is if your MA plan is not rated 5 stars, but you find a 5 star plan available in your area, you can switch anytime of the year. If you would like help finding a 5-star plan, call our licensed independent insurance agents at 800-930-7956.
Still want more information about open enrollment? Check out our Open Enrollment Toolbox below: