Medicare Annual Enrollment starts October 15th
Fall often brings two things, football, and the Medicare Annual Enrollment Period. What is the Medicare Annual Enrollment Period and why is it important? Here are answers to the following questions:
When. The Medicare Annual Enrollment Period, AEP for short, is a set time each year for changing your Medicare coverage choices if you choose to. AEP runs from October 15th to December 7th.
Anyone can make changes to their coverage and enroll in a Medicare plan each year, from October 15th to December 7th. During this time, you can:
- If you have Original Medicare (Part A and Part B), you can switch to a Medicare Advantage plan.
- Switch from a Medicare Advantage plan that doesn’t include a drug coverage to one that does.
- Change or switch to a different Medicare Advantage plan.
- Join or drop a Medicare Part D prescription drug plan.
If you’re in a Medicare Advantage or Part D Prescription Drug Plan, your insurance company will send you a “Plan Annual Notice of Change” (ANOC) each fall, usually in September. This letter will include any changes to your plan including coverage, costs, as well as other changes that will take place and begin in January.
Why is this important? This is an opportunity to review your plan and any changes to decide whether the plan will continue to meet your needs in the next year. You may choose to make changes to your plan for various reasons including that your current plan may no longer suit your needs or will cost more in the upcoming year. Remember, any changes you choose to make during the Annual Enrollment Period won’t begin until January 1st.
For more information. Call or text Chris Vedral, owner of Magnolia Senior Benefits, located at 696 2nd Street Pike, Richboro, PA 18954 to schedule a complimentary consultation in person or over the phone 215-388-2158.
PHOTO CAP: Chris Vedral, owner of Magnolia Senior Benefits, and as heard on WBCB and WRDV-FM.