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If you are a member of a Medicare Advantage or Part D plan, you must take advantage of Medicare’s election periods.
What is an election period? An election period is a specific time when you can make changes to your insurance plan.
Medicare Advantage and Part D members have two periods each year to review their current coverage and change to a different plan if desired.
Annual Election Period (AEP)
Medicare’s Annual Election Period goes from October 15th through December 7th. During this period, Medicare members can make several choices:
Someone with Medicare Part A and B could join a Medicare Advantage or Part D plan.
Someone with a Part D or Medicare Advantage plan could return to Original Medicare (Part A and B).
Someone with a Medicare supplement plan could enroll in a Medicare Advantage plan. However, they would need to contact their supplement plan to disenroll once accepted into the Medicare Advantage plan.
Someone in one Medicare Advantage or Part D plan can switch to a different Medicare Advantage or Part D plan.
To learn more about the Annual Election Period, click here.
Medicare Advantage Open Enrollment Period (OEP)
Medicare’s Open Enrollment Period goes from January 1st to March 31st. Medicare members can only make one change during OEP. Once a plan is selected, that plan will be in effect for the remainder of the year (except in certain special circumstances, such as moving outside the plan’s service area ).
An individual can change from one Medicare Advantage plan (with or without drug coverage) to a different Medicare Advantage plan (with or without drug coverage).
Or someone could go from a Medicare Advantage with drug coverage to Original Medicare (Parts A and B) and a Part D drug plan.
To learn more about the Medicare Advantage Open Enrollment Period, click here.
For more information or to discuss your specific situation, speak to an experienced Vista Mutual agent by calling (800) 398-8714 today.
Source: Medicare.gov
Although we strive to be as accurate as possible, any differences between this document and the information on Medicare.gov will be governed by the information on Medicare.gov.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
