What is AEP?
Hi, you may be wondering, what is AEP? The Annual Enrollment Period (AEP) is when people can enroll in or make changes to their Medicare coverage. It is set by the federal government and allows people time to review their current coverage and make changes, if they need to do so.
The AEP happens every year from October 15th to December 7th. This is when people can enroll in or make changes to their Medicare Advantage plan or Part D prescription drug plan. Or, they can switch between Original Medicare (Part A and Part B) and a Medicare Advantage plan, or disenroll from a Medicare Advantage plan and return to Original Medicare.
Importantly, people can review their current Medicare coverage during the AEP and make sure their coverage meets their needs. Price Services Group can help you review your current coverage. We will look at your current plan's premiums, deductibles, copayments, and covered services. If you are not satisfied with your current coverage, you can make changes during the AEP to find a plan that better meets their needs. And, it is important for you to review your current medications and make sure those medications are covered by your current plan or a new plan. If your medications are not covered, you may be able to find a plan that covers your medications or enroll in a Medicare Part D plan.
If you miss the AEP, you may have to wait until the next AEP to make changes to their Medicare coverage unless they qualify for a Special Enrollment Period (SEP). SEPs are specific situations like moving to a new area or losing employer coverage, which allows people to change their Medicare plan outside of the AEP.
So, the Annual Enrollment Period (AEP) is when people can enroll in or change to their Medicare plan. AEP is from October 15th to December 7th each year, which allows people to review their current coverage and make changes, as needed. importantly, people can review their current coverage and medications during the AEP to make sure the medications are covered. If you miss the AEP, you may need to wait until the next AEP unless they qualify for a Special Enrollment Period (SEP).
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