Medicare

Medicare Annual Enrollment Period (AEP): What to Review Every Year

By Kayla Price, Licensed Medicare Agent | Price Services Group, LLC July 2026 7 min read

Every year from October 15 to December 7, Medicare beneficiaries can make changes to their coverage. This is your annual window to review, compare, and switch — and most people don't take full advantage of it. For a breakdown of every Medicare enrollment window, not just AEP, see our in-depth Medicare Enrollment Periods Explained guide.

Key Takeaways

AEP runs October 15 – December 7 every year; changes take effect January 1.
Premiums, formularies, networks, and Star Ratings can all change annually — even if you do nothing.
Your plan mails an Annual Notice of Change (ANOC) every September — read it.
A 5-star plan Special Enrollment Period exists outside of AEP for qualifying plans.

What Is AEP?

During AEP, you can switch from one Medicare Advantage plan to another, join, drop, or switch a Part D drug plan, or return to Original Medicare from Medicare Advantage. Every change made during this window takes effect January 1 of the following year.

What Changes Every Year

Even a plan you're happy with can look different next year. Premiums, deductibles, and copays are reset annually. Drug formularies — which medications are covered and at what cost tier — can shift. Provider networks can add or drop doctors and facilities. And CMS Star Ratings, which reflect plan quality, are recalculated every year too.

How to Review Your Plan

Pull your current plan's Annual Notice of Change (ANOC), mailed every September.
Check whether your doctors are still in-network for next year.
Check whether your prescriptions are still on the formulary, and at what tier.
Compare your total estimated cost for the year — not just the premium. See our guide on Medicare costs and IRMAA for how to think about total cost.
Check your plan's current CMS Star Rating.

What Is a Star Rating?

CMS rates Medicare Advantage and Part D plans from 1 to 5 stars based on quality and member satisfaction measures. 4-star and above plans generally reflect stronger performance. If a 5-star plan is available in your area, a special enrollment period lets you switch into it once per year, outside of the standard AEP window.

Other Enrollment Periods to Know

Medicare Advantage OEP (Jan 1 – Mar 31): one plan switch or a return to Original Medicare, for those already in a Medicare Advantage plan.
Special Enrollment Periods (SEPs): triggered by qualifying life events like moving or losing other coverage.
5-Star SEP: available year-round if a 5-star plan exists in your area.

How Kayla Helps During AEP

Every AEP, Kayla Price provides an independent review of your current coverage against what's newly available — at no cost, and licensed across NC, SC, GA, FL, VA, MD, KS, TX, OH, and MI. If a mistake from a previous year is part of what brought you here, our guide on 7 Medicare mistakes that cost retirees thousands is worth a read too.

Have questions about your Medicare options?

Kayla Price is licensed in NC, SC, GA, FL, VA, MD, KS, TX, OH, and MI — a free call gets you answers specific to your situation.

Book a free call with Kayla →

Frequently Asked Questions

Do I have to do anything during AEP if I'm happy with my plan?

You're not required to make changes, but it's worth reviewing your plan's Annual Notice of Change anyway — premiums, formularies, and networks can shift even when you don't initiate anything, and "doing nothing" means automatically staying on whatever your plan becomes next year.

When does coverage change take effect after AEP?

Any changes made during AEP (October 15 – December 7) take effect January 1 of the following year, regardless of which day within that window you made the change.

What is the Medicare Open Enrollment Period vs AEP?

"AEP" (Annual Enrollment Period, Oct 15 – Dec 7) is open to everyone with Medicare and allows plan switches, drug plan changes, and returns to Original Medicare. The "Medicare Advantage Open Enrollment Period" (Jan 1 – Mar 31) is a separate, narrower window only for people already enrolled in a Medicare Advantage plan.

Can I switch from Medicare Advantage to Medigap during AEP?

You can drop Medicare Advantage and return to Original Medicare during AEP, but getting a Medigap policy approved isn't guaranteed outside your original Medigap Open Enrollment Period — insurers can medically underwrite the application in most states. See our Medicare Advantage vs. Medigap guide for more on this tradeoff.

What is a Medicare Star Rating and why does it matter?

CMS rates Medicare Advantage and Part D plans on a 1-to-5-star scale based on quality and member satisfaction measures. Higher-rated plans (4+) generally reflect stronger performance, and a Special Enrollment Period exists that lets you switch to a 5-star plan once per year, outside of AEP, if one's available in your area.

Informational purposes only This content is for educational purposes only and does not constitute legal, financial, or medical advice. Enrollment dates, Star Ratings, and plan details are set by CMS and are subject to change annually. Consult a licensed Medicare advisor for guidance specific to your situation.

Price Services Group is an independent licensed insurance agency — not affiliated with or endorsed by the U.S. government, the Social Security Administration, or the federal Medicare program. NPN: 18530055. Agency NPN: 20387435.

Sources
Medicare.gov — Enrollment Periods
Medicare.gov — Plan Finder & Star Ratings