09/25/2022
The Medicare Advantage and Prescription Drug Plan Annual Enrollment Period (AEP) runs from October 15 to December 7 each year and is the best time for Medicare beneficiaries to change their coverage. This is a good time to ensure you have all of the healthcare benefits available to you, that you have coverage that aligns with your budget, and that you’re made aware of any changes made to your existing plan.
The Medicare Advantage and Prescription Drug Plan Annual Enrollment Period (AEP) runs from October 15 to December 7 each year and is the best time for Medicare beneficiaries to change their coverage. This is a good time to ensure you have all of the healthcare benefits available to you, that you have coverage that aligns with your budget, and that you’re made aware of any changes made to your existing plan.
While you may be overwhelmed with the amount of information on AEP, here’s a guide to help you prepare for enrolling in coverage during the Medicare Annual Enrollment Period 2022.
When is Medicare Annual Enrollment Period for 2023?
Medicare Annual Enrollment Period for 2022 starts October 15, 2022, and ends December 7, 2022. Starting on October 15, Medicare beneficiaries have the ability to:
• Switch from Original Medicare (Medicare Part A and Medicare Part B) to a Medicare Advantage plan (Medicare Part C).
• Change from one Medicare Advantage plan to another Medicare Advantage plan.
• Switch from one Prescription Drug plan (Medicare Part D) to another or enroll in a Medicare Advantage Prescription Drug plan for more comprehensive coverage.
• Add a Prescription Drug plan if you didn’t enroll when first eligible for Medicare.
Things You Can’t Do During Medicare Annual Enrollment Period 2023
During the Medicare Advantage and Prescription Drug Plan Annual Enrollment Period, you cannot enroll in a new Medigap policy without going through the traditional underwriting process. AEP is the time to either switch from Original Medicare to a Medicare Advantage plan or change from one Medicare Advantage plan to another.
Do I have to change Medicare plans every year?
There’s no requirement to change your Medicare plans during AEP every year. However, Medicare plan details can change annually, so it’s a good idea to compare plan options each fall to confirm your health and prescription drug needs are covered for the coming year. Even if you’re happy with your current Medicare plan, you’ll want to consider the following:
• Some plans may include benefits you could be missing out on, including dental, vision, hearing coverage, prescription drug coverage, and transportation to appointments.
All Medicare beneficiaries can review their coverage for the upcoming year during AEP. A new addition in 2021 was that individuals with End-Stage Renal Disease (ESRD) could enroll in Medicare Advantage plans. Individuals with ESRD have historically been prohibited from enrolling in Medicare Advantage plans without special qualifications, but can now compare their options for coverage during AEP alongside all other Medicare beneficiaries.
• There may be changes to your existing plan that you need to be aware of. There also may be new or updated plans that better meet your needs and budget.
Who can enroll in Medicare during AEP 2023?
All Medicare beneficiaries can review their coverage for the upcoming year during AEP. A new addition in 2021 was that individuals with End-Stage Renal Disease (ESRD) could enroll in Medicare Advantage plans. Individuals with ESRD have historically been prohibited from enrolling in Medicare Advantage plans without special qualifications but can now compare their options for coverage during AEP alongside all other Medicare beneficiaries.
