Taking note of Medicare’s enrollment periods is very important in making sure you get the coverage you need and at the right time. One of the most important enrollment periods all Medicare beneficiaries should take note of is the Annual Enrollment Period. While this period is an optional period to take advantage of, it can be very beneficial to those who do choose to use it.
What is the Annual Enrollment Period?
The Annual Enrollment Period starts each year on October 15th and ends December 7th. Any change you make during this period will become active on January 1. The Annual Enrollment Period enables you to make certain changes to your Medicare plan in order to get the coverage you need. Your insurance provider will send a document known as the Annual Notice of Change before this period starts, which contains details about changes to your plan and coverage options. If after reviewing this notice you are satisfied with the changes that will be made to your plan, you can keep your plan and not take any action during the Annual Enrollment Period.
What Changes Can I Make?
If you prefer to make changes to your Medicare plan, then you can do so during this period. There are several changes you can make if it will make your coverage or costs better. These changes can include:
- Joining a Medicare Advantage (Part C) plan
- Dropping your Medicare Advantage plan to go back to Original Medicare
- Switching Medicare Advantage plans
- Switching to a Medicare Advantage plan with prescription drug coverage
- Adding on a Part D plan
- Dropping your Part D plan
- Switching insurers
Give Us a Call Today!
The agents with El-Mag Insurance are here to help you get the Medicare coverage you deserve! If you have any questions at all about the Medicare Annual Enrollment Period or if you should take advantage of it or not, reach out to us today and we’ll be happy to help.