medicare annual election period
What is AEP and when does it occur?
Medicare annual election period, also known as Medicare AEP, gives all Medicare beneficiaries an opportunity to sign up for, change, or dis-enroll from their Medicare plan. Medicare annual election period runs from October 15 to December 7 every year. Changes you make during AEP go into effect January 1 of the next year. During this period, Medicare beneficiaries can change Medicare plans as often as they wish, with the last enrollment before the December 7th deadline being active on January 1st.
What you can do during Medicare AEP
Go from Original Medicare to a Medicare Advantage plan.
Switch from a Medicare Advantage plan back to Original Medicare.
Switch from a Medicare Advantage plan to a different Medicare Advantage plan.
Change from a Medicare Advantage plan that doesn’t include prescription drug coverage to one that does, and vice versa.
Enroll in a stand-alone Medicare Part D Prescription Drug Plan.
Move from one stand-alone Medicare Part D Prescription Drug Plan to another one.
Drop your prescription drug coverage.
Special Election Periods
The Medicare program allows plan changes after the Medicare annual election period, provided certain guidelines are met. Also known as a Special Election Period (SEP), Medicare beneficiaries may make plan changes when the following events occur:
Moving out of your plans service area
Receiving both Medicare & Medicaid benefits
Qualifying for Extra Help
Living in, moving to, or moving from an institution such as long-term care hospital or skilled nursing facility
Enrollment into a 5 Star plan
Other specific factors that are outside a beneficiary’s control, such as when a Medicare plan ends its contract with Medicare
Medicare Insurance Solutions Offered
Medicare Advantage Plans (with and without Part D Prescription Drug Coverage)
Medigap, also known as Medicare supplement plans.
Stand-alone Medicare Part D Prescription Drug coverage.
Licensed and certified with industry leading Medicare carriers in Florida, Safe Havens Insurance will get you through Medicare AEP from start to finish!
