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Healthcareplans.com is your resource for Medicare information. We’re here to make the process of Medicare enrollment simpler by providing all the information you need about Medicare’s various enrollment periods. This article focuses on the Medicare Annual Enrollment Period (AEP), including when AEP occurs each year, what you can do during AEP, and how it is different from the Open Enrollment Period which it is sometimes confused with.
The Medicare Annual Enrollment Period (AEP) occurs each year from October 15 through December 7. During this time, Medicare enrollees can review and make changes to their Medicare coverage which will go into effect on January 1 of the following year.
The term Open Enrollment Period is often used interchangeably with the Annual Enrollment Period, but the OEP (sometimes known as the Medicare Advantage Open Enrollment Period or MAOEP) is actually an entirely different period. OEP lasts from January 1 to March 1 each year; this period is for switching Medicare Advantage plans or for leaving Medicare Advantage and switching to Original Medicare. This period exists so that Medicare Advantage enrollees can make a final check of their impending year’s coverage and make a small change; it should not be treated as a time for enrolling in a new plan.
Not only do the Medicare Annual Enrollment Period (AEP) and the Medicare Open Enrollment Period (OEP) occur at different times—AEP from October 15 to December 7 each year, OEP from January 1 to March 31—they serve different purposes. OEP is for making changes to existing Medicare Advantage coverage, while AEP is for more comprehensive Medicare enrollment.
During AEP you can change your existing coverage or enroll in a Medicare Advantage plan for the first time. AEP is the perfect time to shop around for different plans to find the coverage that best fits for your needs—and your budget. You can work directly with an insurance provider, or use an insurance agency like healthcareplans.com to help you find the coverage you need.
During AEP, you can sign up for the first time or switch coverage involving the following types of plans:
Using a website like Healthcareplans.com can help you research and compare available Medicare Advantage, Medigap, Medicare Part D, and Medicare Dual Eligible Special Needs Plans. But whether you work with a private insurance provider or an agency like ours that collaborates with various providers to connect customers with multiple options from multiple providers, you’ll need to call or enroll online during the period between October 15 and December 7.
Some of the benefits of working with Healthcareplans.com include the following:
The short answer is no. If you’re enrolled in Original Medicare and happy with your benefits, you’re good to go. The reason to make changes during the Annual Enrollment Period is if you need more or different coverage, especially the additional benefits provided by a Medicare Advantage (Part C), prescription drug (Part D), or Medigap plan.
However, some private insurance providers occasionally retire plans. If you have a Medicare Advantage or other private insurer plan that will no longer exist in the following year, you’ll need to find a new policy to maintain coverage.
While we hope that this article has helped to provide all the information you need to know about Medicare AEP, the differences between AEP and OEP, and the different types of plans you can enroll in during AEP, sometimes it’s best to speak to an expert. Get in touch with our sales team by calling 1-855-200-9406. We’re especially happy to help you navigate the Annual Enrollment Period from October 15 - December 7 each year—during AEP we’re open seven days a week from 7 a.m. - 7 p.m.
Collaborating with Clearlink Insurance Agency, Healthcareplans.com connects potential Medicare enrollees and current Medicare policyholders with information about enrollment periods, plans, and pricing.
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