Topic: Medicare and Medicaid
Annual Enrollment Period (AEP), also called Open Enrollment Period, is once each year. During that period, those who are already enrolled in a Medicare health plan can enroll in or change drug plans. You should shop drug plans each year because premiums, deductibles, co-pays and the drugs covered by your plan may change. In addition, those who are already in a Medicare health plan may change from Original Medicare (Parts A, B, D, and supplements) to a Medicare Advantage Plan (usually an HMO or PPO) or vice versa.
The following information is taken from the “Medicare & You” handbook that is provided to Medicare recipients annually.
Mark your calendar with these important dates! In most cases, this may be the only chance you have each year to make a change to your health and prescription drug coverage.
1. October 1: Start comparing your coverage with other options. You may be able to save money by comparing all of your options.
2. October 15–December 7: Change your Medicare health or prescription drug coverage for the following year if you decide to.
3. January 1: New coverage begins if you make a change during Open Enrollment. New costs and benefit changes also begin if you keep your existing
Medicare health or prescription drug coverage, and your plan makes changes. 1
1. Medicare Publication 10050, “Medicare and You,” Page 13, October 1, 2014