Medicare Enrollment FAQs: Your Guide to AEP Changes

The Medicare Annual Enrollment Period (AEP) runs from October 15 to December 7 each year. This limited-time window allows you to make important changes to your Medicare coverage. While it can seem overwhelming, this guide will demystify the process by answering some of the most common questions. Read through each FAQ carefully, even if your current plan seems to be working well.

Do I need to do anything if I’m happy with my current plan?

Even if you're satisfied with your current Medicare plan, it's wise to review your coverage annually. Plan premiums, provider networks, and drug formularies can change each year, affecting your costs or access to services. Staying informed ensures you're not caught off guard by unexpected changes.

What’s the difference between Original Medicare and Medicare Advantage?

Original Medicare is managed by the government, typically requiring separate plans for drug coverage and optional Medigap policies. Medicare Advantage plans, offered by private insurers, often bundle medical and drug benefits and may include extras like dental or vision care. Understanding these differences helps you choose the coverage that best fits your needs.

When can I learn about next year’s plans?

Information about next year's Medicare plans becomes available in October. To learn more, you can call 1-800-MEDICARE or visit Medicare.gov. Getting a head start on your research enables you to make informed decisions about your coverage options.

What if I miss the Open Enrollment deadline?

If you miss the Open Enrollment deadline, you generally won't be able to make changes until the next enrollment period unless you qualify for a Special Enrollment Period due to a major life event. Being aware of the deadlines helps ensure you don't miss this critical window for making changes.

What changes can I make during Open Enrollment?

During Open Enrollment, you have the flexibility to switch from Original Medicare to a Medicare Advantage plan, transition from one Advantage plan to another, or modify your Part D prescription coverage. This freedom allows you to tailor your coverage to better suit your changing health needs.

Understanding the Medicare Annual Enrollment Period is key to taking control of your healthcare decisions. Begin your research early, utilize reputable sources like Medicare.gov , and consult with a professional if necessary. Even a small investment of time in reviewing your plan can lead to significant savings or improved coverage for the year ahead.