Explained: Medicare & Annual Enrollment Period

The Medicare Annual Enrollment Period starts from Oct 15 and ends on Dec 7 every year. For seniors who didn’t enroll in any of the given coverages when they initially became eligible for the Medicare plan, AEP is their best chance for making these changes, except they’re eligible for SEP also known as Special Enrollment Period.


Below we’ve listed things the enrollee can do within their AEP:


Change to MA coverage from Traditional Medicare

Switch from their current MA coverage to a new Advantage Plan (irrespective of whether any of the policies covers prescription medications).

Switch to Traditional Medicare from Medicare Advantage Plan

Enroll themselves in Medicare Part D prescription coverage.

Switch from their current Medicare prescription coverage to a new one.

Disenroll themselves totally from Medicare prescription coverage.


Changes that are made during AEP apply from Jan 1 of the following year.


Making changes post Annual Enrollment Period:


Suppose you presently have the Advantage plan & would like to enroll in Part A & B Original Medicare, you’ll be able to make such a change during your Disenrollment Period of the Advantage Plan, from Jan 1 to Feb 14 every year.


In case you go back to Traditional Medicare within this term, you can enroll until Feb 14 in Part D Medicare prescription coverage. Although it’s optional, if you do decide to enroll in it in the future, you might have to pay a penalty due to late enrollment.


Medicare allows for changes outside your regular enrollment periods in certain situations which might be out of your control most times, like Medicare terminating its contract with the plan which you presently have, via SEPs otherwise mentioned as Special Election Periods. Additional examples of such situations might include:


Relocating out of the service region of your current plan.

Receiving both Medicaid as well as Medicare benefits.

Becoming eligible for additional Help.

Moving from, moving to, or residing in an institution like a skilled nursing care or long-term care unit.

Etc.  Get a quote for a 2019 medicare advantage plan here https://www.medicareadvantage2019.org/


You might have to pay a penalty for late enrollment in the event each of the below mentioned things are true:


You fail to enroll in a part D prescription coverage(like Medicare Advantage policy which covers prescription medications or an exclusive prescription coverage) when you become initially eligible.

You do not have additional creditable coverage for prescription medications for over 63 consecutively.

You then make a choice to participate in the Medicare prescription policy after some time.

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