What You Can and Cannot Do During Medicare’s AEP

Medicare’s Annual Enrollment Period arrives this month, on October 15, and will last through December 7. Now is the time to evaluate your current plan, if you haven’t already, and review it with other plans that are available to you. It’s possible that you might find a better fit for your healthcare needs or budget. During Medicare AEP, you can take the following actions with regard to your plan:

• Switch from Original Medicare to a Medicare Advantage plan
• Switch from Medicare Advantage back to Original Medicare
• Compare different Medicare Advantage plans
• Switch from one Medicare Advantage plan to another
• Add a Part D (prescription) plan to Original Medicare
• Drop a Part D plan
• Switch from one Part D plan to another

At this point, you should have received an Annual Notice of Change (ANOC) from your current plan’s administrator. This letter details any changes to your plan that will take effect next year. Examine those changes carefully, so that you can determine whether your current plan still meets your needs. If you do nothing during Medicare AEP, you will be re-enrolled into your current plan. But everyone should take the time to research their options, because it is possible another plan will better suit your preferences and budget. There is one thing you cannot do during Medicare AEP: This is not the time to enroll in a Medigap plan without answering questions about your health. In fact, the only time you can do that is during your original, six-month Medicare enrollment window. At any time thereafter, you must pass underwriting by answering these questions… And there is no guarantee that you will be offered coverage. If you need any assistance at this time, give us a call and we’ll be happy to help.