Medicare’s 2020 Annual Election Period (also known as AEP or Open Enrollment) kicks in on October 15th and finishes on Dec 7th.
What is AEP Open Enrollment 2020?
During Open Enrollment Medicare you can switch your Medicare Part D or your Medicare Advantage (MA) plan.
Since MA or drug plans can change drug coverage lists every year, you may want to consider switching your plan during Open Enrollment. Your Medicare Advantage plan can change it’s network of doctors and facilities as well, change they way they cover a medical service, and/or add additional benefits like dental, vision, and hearing. This is definitely the time to switch plans.
When is Medicare’s 2020 Open Enrollment?
Medicare’s Open Enrollment takes place from October 15th to December 7th. The effective date of the plan will always be January 1st.
Does Medigap have an Open Enrollment for 2020?
No. Medigap does not count with an Open Enrollment. You can switch from one Medigap plan to another during this time but you will need to go through medical underwriting. Additionally, if you would try to switch from Medicare Advantage to Medigap you will also have to answer questions on your medical condition unless you qualify for special enrollment. There are some big changes for Medigap in 2020 but they are not impacted by Open Enrollment.
Taking that into account, if you are planning to switch from MA to Medigap, this is the best time for doing so as you can terminate MA and start your Medigap coverage on Jan 1. Call us for help with this case at 800-930-7956
Can I Switch My Part D or MA plan outside of Open Enrollment?
The answer is a firm “maybe”. If you moved out of your plan’s area or your plan misleads you, you can switch. When it comes to most of the other reasons, you can’t, unless you qualify for the Medicare 5-star rule. The 5 star rule takes place if your MA or drug plan is not rated 5 stars, and you find a 5-star-plan available in your area. If this is the case 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 need more information about Open Enrollment? Check out our Open Enrollment Toolbox below: