As we approach the Medicare Annual Enrollment Period (AEP), you may need some advice for navigating this important event.
Here are eight essential bits of information to help guide you through this period successfully:
1. AEP runs from Oct. 15 to Dec. 7 each year, allowing Medicare beneficiaries to review and make changes to their coverage options for the following year.
2. During AEP, individuals can switch from Original Medicare to Medicare Advantage, or vice versa, as well as change or enroll in prescription-drug coverage under Medicare Part D.
3. It is crucial to review your current healthcare needs and coverage during AEP to ensure that your plan still meets your requirements for the coming year.
4. Changes made during AEP take effect on Jan. 1 of the following year, so it is important to make any necessary adjustments before the deadline.
5. Medicare Advantage plans can change their coverage and costs each year, making it essential to review any notifications from your current plan to understand how it may impact your coverage.
6. Utilize online resources like the Medicare Plan Finder tool on the official Medicare website to compare plans and find one that best fits your needs and budget.
7. Consider factors like premiums, deductibles, copayments, network providers and prescription-drug coverage when evaluating your options.
8. If you need help or have questions about Medicare AEP, you can contact Medicare directly or seek help from a licensed insurance agent specializing in Medicare to guide you through the process.
*Not Affiliated with the U.S. Government or Federal Medicare Program. We do not offer every plan available in your area. Any information provided is limited to those plans offered in your area. Please contact Medicare.gov or 1-800 MEDICARE to get information on all your options.
