The Annual Enrollment Period (AEP) for Medicare starts October 15th and continues through December 7th. During this time you can make changes to your current health coverage. Any changes will go into effect January 1st of 2017.
Annual Enrollment Period Options
You can enroll in a Medicare Advantage Plan for the first time. To be eligible, you must have Original Medicare Parts A and B, live in the health plan’s service area, and not have End-Stage Renal Disease (most cases).
You can switch from one Medicare Advantage Plan to another.
You can change from a Medicare Advantage Plan back to Original Medicare. By choosing this option, you are also eligible to apply for coverage by purchasing a Medicare Supplement Plan.
You can enroll in a Prescription Drug Plan for the first time.
AEP is the best time to compare your current coverage to the other available options. Whether you have a Medicare Supplement or a Medicare Advantage Plan, you should always compare other plans in your area at least once a year. Rates and benefits can change significantly. If changes need to be made, AEP could be your only opportunity.
If you have a Prescription Drug Plan, it is important to remember your plan’s rate and drug formulary will likely change in 2017. Again, AEP could be your only chance to switch to a better plan.
Medigap Planners offers free no-obligation plan comparisons. We’ll provide you with a detailed report showing you all the available plans and benefits in your area. You have the option to compare Medicare Supplements, Medicare Advantage, and Prescription Drug Plans. We will help you save money on your health insurance coverage.