Annual Enrollment Period, (AEP) also know as Open Enrollment Period (OEP) is from October 15th through December 7th each year.
All Medicare Advantage Plans and all Prescription Drug plans will change annually. Medicare supplements (Medigap) benefits will stay the same and automatically renew.
- It is important to “shop” for a plan every year.. 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 the upcoming calendar year.
- If you are satisfied with your existing coverage, it will automatically renew for the next year.
- If you want to change plans, this OEP is the time to make the change.
- Be an educated consumer. Changing plans could save you thousands of dollars per year.