Medicare Open Enrollment: What You Need to Know
Every year, Medicare Open Enrollment, also called the Annual Election Period (AEP), runs from October 15 through December 7. This is your opportunity to review your Medicare coverage and make changes for the year ahead. Any changes you make during this window will take effect on January 1.
What You Can Do During Open Enrollment
During this time, you can:
- Switch from Original Medicare (Part A and Part B) to a Medicare Advantage Plan (Part C).
- Switch from a Medicare Advantage Plan back to Original Medicare.
- Change from one Medicare Advantage Plan to another.
- Enroll in, drop, or switch a Medicare Prescription Drug Plan (Part D).
- Review and update your plan to ensure your doctors, pharmacies, and prescriptions are still covered.
Important Note About Medicare Supplement Plans
Medicare Open Enrollment does not apply to Medicare Supplement (Medigap) policies. These plans work alongside Original Medicare and are not affected by the October 15 to December 7 window.
- If you have a Medicare Supplement plan, you do not need to make any changes during this period.
This is an important distinction, as many people confuse Medicare Advantage and Medicare Supplement coverage. Open Enrollment only impacts Medicare Advantage (Part C) and Prescription Drug Plans (Part D).
Why Reviewing Your Coverage Matters
Your health and prescription needs may change from year to year. Insurance companies can also adjust plan benefits, premiums, and provider networks. Reviewing your options each fall ensures you:
- Keep your preferred doctors and providers in-network.
- Have the prescription drug coverage you need at the best price.
- Avoid unexpected costs in the new year.
How to Prepare
- Review your Annual Notice of Change (ANOC): Plans send this document each September. It details any changes for the upcoming year.
- Check your prescriptions: Confirm your medications are still on your plan’s formulary.
- Compare plans: Look at premiums, deductibles, copayments, and provider networks.
- Ask questions: Reach out to a licensed insurance professional if you need guidance.
Key Dates
- October 15 – December 7: Medicare Open Enrollment period.
- January 1: Any changes made take effect.
Source: Centers for Medicare & Medicaid Services (CMS)