Medicare beneficiaries often ask what is the Annual Enrollment Period (AEP) and when it begins. During the Annual Enrollment Period, you have the opportunity to review and make changes to your coverage and prescription drug plan. AEP is the most common enrollment period and is from October 15th to December 7th. Senior Medicare Specialist John Shinn recommends “marking your calendar with these important dates. This [period] may be the only chance you have to make changes to your plan.”
Pre-enrollment for AEP starts on October 1. This date is when you can start comparing your coverage to other plans. Before the Annual Enrollment Period begins, carriers revise their plans, which may have coverage or cost effects for you. Even if you are happy with your coverage, you should still look into others, as you may be able to save money and receive more benefits by switching plans. If you choose to switch your plan, the changes go into effect on January 1 of the following year.
The government restricts when you can purchase insurance. Carriers approve new products before AEP begins. Beneficiaries have several weeks between October 15 and December 7 to make any changes to their plans. Once the Annual Enrollment Period ends in December, you are locked into your plan for the next year, which is why it is so important to carefully review your options and choose a plan that is best for you. Annual Disenrollment is from January 1 to February 14. This span is a short grace period following AEP, which allows you to change your plan from a Medicare Advantage Plan to a Medicare Supplement Plan and add a prescription drug plan.
How You Can Prepare for the AEP
Having strict deadlines for such a vital time can be daunting. Luckily, there are a few things that you can do to prepare yourself for the Medicare Annual Enrollment Period.
Firstly, you want to be aware of any changes that your Medicare plan has gone through. Each year, your Medicare Advantage plan or Medicare prescription drug plan may change coverage or cost details. This could mean positives like new benefits, an updated list of covered drugs, or decreases in various costs. Unfortunately, it could also have some negatives, like your primary care doctor becoming out-of-network, some medications no longer being covered, or an increase in costs. For Medicare beneficiaries, this should all be covered in your Annual Notice of Change (ANOC) letter. This is a warning that carriers are required to send out to let beneficiaries know of any changes coming to their plan. Prepare for the AEP by reviewing your ANOC letter.
Then, you just want to make sure that you are aware of your needs. Just like your Medicare plan can change, so can your health. While you may have required fewer health care services, that may not be the case moving forward. There are a few things you can consider when you are searching for a plan during AEP:
- Growing health concerns or new diagnosis
- Any planned procedures
- New medications prescribed by your doctor
- Wanting to change doctors
- Changes in your financial situation
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This article was updated on 4/11/2025.