Annual Enrollment Period, (AEP) also know as Open Enrollment Period (OEP) is from October 15, 2015 until December 7, 2015.
- All Medicare Advantage Plans and all Prescription Drug plans will change for 2016. Medicare supplements (Medigap) benefits will stay the same and automatically renew.
- It is important to “shop” for a plan for 2016. This can be done at www.Medicare.gov or by contacting a reputable insurance agent that represents numerous plans.
- Your existing insurance plan is required to let you know by letter what changes will be made for 2016.
- If you are satisfied with your existing coverage, it will automatically renew for 2016.
- If you want to change plans, this OEP is the time to make the change.
- Part B premiums will be going up for new Medicare beneficiaries. This will not affect existing Medicare recipients.