Annual Enrollment Period (AEP)

The Annual enrollment period starts on October 15th and ends on December 7th annually. This annual time is used to review your coverage. Listed below are the things you can do:

If you are on a Medicare Advantage Plan (Medicare Part C):

Review your plan benefit changes for the next year.

You should check for benefit changes.

premium changes if applicable.
doctor and network changes.
drug formulary changes.

Change to another Medicare Advantage Plan.
Drop your Medicare Advantage Plan and go back to Original Medicare.

Many beneficiaries also decide to apply for a Medicare Supplement if they elect this option.
Since most Medicare Advantage plans include drug coverage it is advised that you pick up a stand-alone drug plan, so you continue to have drug coverage.

If you are on a stand-alone Medicare prescription drug plan (Medicare Part D):

Review your plan benefit changes for the next year.

you should check premium changes.

Pharmacy network changes.
Drug formulary changes.

Change to another prescription drug plan.
Drop your prescription drug plan and switch to a Medicare Advantage Plan (Medicare Part C).

If you are on a Medicare supplement (Medigap):

Switch to a Medicare Advantage Plan (Medicare Part C).

Many people have the misunderstanding that they must wait until AEP to change from one Medigap to the next, the truth is that you can go from Medigap to Medigap at any time if you can medically qualify.
You should call your agent annually for a quick look to see if you can get a better price since the only difference is the actual company, all coverages will be the same.

Important notes on the Annual Enrollment Period:

Once you have made a change you can still change again, the last plan you enroll in prior to the end of the day on December 7th will be the plan that takes effect.

If you change your mind after the 7th, if you are enrolled for a Medicare Advantage plan prior to December 7th. You will have the ability to change from January 1st to March 31st during the Medicare Advantage Open Enrollment Period (OEP).
Always work with an agency or broker that offers multiple plans, this ensures you get the plan that’s right for your situation, not what’s right for a particular agent.

Additional Guidance:

A few things to keep in mind; as an agent for many years, I have constantly heard I want to speak directly to Medicare. It is important to understand that Medicare hires many temporary employees during the Annual Enrollment Period to handle the call volume, but they are not licensed, insurance agents. If you get misinformation from them, it can be very difficult to get it corrected. They only have certain things they are allowed to say. Essentially, they are required to read directly from the Medicare documentation that is provided yearly:

Medicare and You handbook

A Guide to Choosing a Medigap Policy

These 2 communications are where they get any answers from, if it is not in there; in most cases, they will not be able to answer the question.

Be careful what you fill out on the internet.

Every year, many people fill out contact forms thinking they will get quotes and information online. 99% of these sites will not provide you with the information that you are looking for. They will put you on an automatic dialer and call 3 or more times a day, in addition, many will sell your information to other companies thus increasing the phone calls that are coming in.

We are different at E-Advise Insurance, not only will you see quotes for most of the plans in your area. In many cases, you can even enroll yourself online. We are not here to harass you with phone calls but to assist you in providing the correct plans for your needs.

If you have questions regarding Medicare, please give us a call at 855-855-8301. You can also live-chat us by clicking on the Chat Icon at the bottom of the screen, or you can send us an email.