Annual Enrollment Period

What is the Medicare Advantage Annual Enrollment Period?

The Annual Enrollment Period (AEP) is when Medicare beneficiaries can join, drop or change Medicare Advantage and Medicare Part DMedicare Part D plans are an option Medicare beneficiaries can use to get prescription drug coverage. Part D plans provide cost-sharing on covered medications in four different phases: deductible, initial coverage, coverage gap, and catastrophic. Each... prescription drug plans. AEP begins on October 15 and ends on December 7.¹Medicare.gov, “Joining a health or drug plan“, Accessed September 25, 2021

During the Annual Enrollment Period, beneficiaries can join, drop, or switch Medicare Advantage and Medicare Part D plans. If a beneficiaryA person who has health care insurance through the Medicare or Medicaid programs. drops a Medicare Advantage planMedicare Advantage (MA), also known as Medicare Part C, are health plans from private insurance companies that are available to people eligible for Original Medicare (Medicare Part A and Medicare Part B). and does not join a new one, they will automatically go back to Original Medicare.¹Medicare.gov, “Joining a health or drug plan“, Accessed September 25, 2021

The AEP, sometimes called the Medicare Fall Open EnrollmentIn health insurance, open enrollment is a period during which a person may enroll in or change their selection of health plan benefits. Health plan enrollment is ordinarily subject to restrictions. Period, is not the same as the Medicare Advantage Open Enrollment Period (January 1 to March 31), nor is it the same as the General Enrollment Period (January 1 to March 31). These enrollment periodsEnrollment periods are designated time periods to enroll or disenroll from the various parts of Medicare. There are six Medicare enrollment periods. have different purposes and different rules.¹Medicare.gov, “Joining a health or drug plan“, Accessed September 25, 2021

Even if a beneficiary’s current Medicare coverage meets their needs, it is worth looking into other options available in their area. Look to see whether there are any other plans in their area that offer better health or drug coverage at a lower price. Part D beneficiaries can reduce their annual costs by shopping between plans to find one with fewer restrictions and/or lower prices.

If a beneficiary is dissatisfied with a Medicare Advantage or Medicare Part D plan they chose during AEP, they can change their plan during the Medicare Advantage Open Enrollment Period (MA OEP). However, they cannot use this period to switch back to Original Medicare.

The Annual Enrollment Period does not apply to Medicare supplement insuranceMedicare Supplements are additional insurance policies that Medicare beneficiaries can purchase to cover the gaps in their Original Medicare (Medicare Part A and Medicare Part B) health insurance coverage. (Medigap). Beneficiaries enrolled in Medicare Part AMedicare Part A is hospital coverage for Medicare beneficiaries. It covers inpatient care in hospitals and skilled nursing facilities. It also covers limited home healthcare services and hospice care. and Part BMedicare Part B is medical coverage for people with Original Medicare benefits. It covers doctor visits, preventative care, tests, durable medical equipment, and supplies. Medicare Part B pays 80 percent of most medically necessary healthcare services. can add, switch, or cancel a Medigap policy at any time. If a beneficiary does not have guaranteed issue rightsGuaranteed-issue is a right granted to Medicare beneficiaries and applies to Medicare Supplement insurance (aka, Medigap plans). All states and the federal government enforce this essential right, which protects Medicare beneficiaries from medical underwriting., medical underwriting may be required.

Citations

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  Medicare.gov, “Joining a health or drug plan“, Accessed September 25, 2021