Medicare AEP: 5 FAQs You Need to Know

What changes can I make during Open Enrollment?

During the Annual Enrollment Period, you have the opportunity to make several changes to your Medicare coverage. You can switch from Original Medicare to a Medicare Advantage plan, change from one Medicare Advantage plan to another, or modify your Part D prescription coverage. Understanding these options ensures you have the right plan for your health needs today and helps you avoid unexpected costs later on.

Do I need to do anything if I’m happy with my current plan?

Even if your current plan seems perfect, it's wise to review it during the AEP. Factors like premiums, provider networks, and drug formularies change annually. Reviewing your plan ensures you're getting the best value and the coverage still aligns with your personal and health care needs.

What if I miss the Open Enrollment deadline?

If you miss the December 7 deadline, you generally need to wait until next year to make changes unless you qualify for a Special Enrollment Period due to events like moving out of your plan’s area or certain life changes. Being aware and planning ahead is crucial to avoid gaps in coverage.

When can I learn about next year’s plans?

Details about upcoming Medicare plans become available every October. You can call 1-800-MEDICARE or visit Medicare.gov to explore your options. Being informed early allows you to thoughtfully compare plans instead of rushing decisions at the last minute.

What’s the difference between Original Medicare and Medicare Advantage?

Original Medicare is managed by the government and is usually paired with separate drug coverage and the option to add Medigap for additional benefits. Medicare Advantage plans, however, are provided by private insurers and typically bundle medical and drug benefits together, often including additional perks such as dental or vision coverage. Understanding these differences helps you tailor your plan to your lifestyle and medical needs effectively.

Taking control of your healthcare means understanding your options, and the Annual Enrollment Period is an ideal time to ensure you’re covered adequately. Get a head start by researching potential changes, consulting trusted sources such as Medicare.gov, and reaching out to professionals for guidance as needed. Even small tweaks in your plans can lead to significant savings or improved benefits.”