If you've heard the phrase "Open Enrollment," this is likely what people mean.
The Annual Enrollment Period (AEP) runs from October 15 through December 7 each year.
Changes made during this time typically take effect January 1.
But let's go deeper.
What You Can Do During AEP
Depending on your situation, you may be able to:
- Switch Medicare Advantage plans
- Switch Part D prescription plans
- Move from Original Medicare to Medicare Advantage
- Leave Medicare Advantage and return to Original Medicare
Rules and eligibility apply.
Why AEP Exists
Medicare plans can change annually.
- Benefits
- Copays
- Formularies
- Networks
AEP gives beneficiaries the opportunity to review and adjust coverage if needed.
The Mistake Most People Make
Doing nothing.
Not because nothing changed.
But because no one reviewed it.
Even if you like your plan, reviewing it confirms:
- Your doctors are still in-network
- Your prescriptions are still covered properly
- Your costs haven't shifted unexpectedly
What Typically Changes Year to Year
Plans update their benefits, networks, and formularies annually. Key areas to review:
Prescription Coverage
- Are your medications still on the formulary?
- Have tier placements changed?
- Is your pharmacy still in the preferred network?
Provider Network
- Are your doctors still in-network?
- Are your specialists still covered?
Cost Structure
- Have copays or deductibles increased?
- Has the maximum out-of-pocket changed?
Important Clarification
You are not required to change plans during AEP.
If your coverage still fits, you can keep it.
The review is about confirmation, not forced change.
When AEP Changes Take Effect
Changes made during AEP (October 15 – December 7) take effect January 1 of the following year.
This is why reviewing your plan before December 7 is important - you have time to make a thoughtful decision before the new plan year begins.
Final Thought
AEP isn't a sales season.
It's a verification season.
If you'd like, we can review your coverage during AEP and confirm whether staying or adjusting makes sense.
No pressure.
Just clarity.
Related Topics
- What Is the Medicare Advantage Open Enrollment Period (OEP)?
- What Is a Special Enrollment Period (SEP)?
- Why Annual Medicare Reviews Matter
- What Is the Annual Notice of Change (ANOC)?
- Medicare Enrollment Periods Guide
Benefits vary by plan, county, and eligibility. Always verify with the plan's Summary of Benefits before enrolling.