What is Medicare Annual Open enrollment?
Medicare Annual Open enrollment – also known as the Annual Election Period or Annual Coordinated Election period – refers to the annual period (October 15 through December 7) during which Medicare plan enrollees can reevaluate their coverage — whether it’s Original Medicare with supplemental drug coverage, or Medicare Advantage — and make changes if they want to do so. Medicare Annual Open enrollment changes are effective on January 1.
During Medicare open enrollment, a beneficiary can:
- Switch Medicare Advantage plans, switch from Medicare Advantage back to Original Medicare or vice versa,
- Join a Medicare Part D prescription drug plan,
- Switch from one Part D plan to another, or
- Drop Medicare Part D coverage entirely.
Medicare and Insurance Companies change every year so it’s a great idea to take a look at what you have and what you may want to change or not.
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