Medicare’s Annual Enrollment Period (AEP) happens every year from October 15 to December 7. This limited-time opportunity is your chance to make changes to your Medicare coverage. Though AEP can feel confusing, the following FAQs will simplify the most common questions and empower you to take informed action. Even if you think your plan is working just fine, reading through each FAQ could be beneficial.

What changes can I make during Open Enrollment?

During Open Enrollment, you can switch from Original Medicare to a Medicare Advantage plan, change from one Advantage plan to another, or modify your Part D prescription coverage. This is your chance to tailor your plan to better meet your current needs.

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

Even if you’re satisfied, it may be a good idea to review your coverage. Premiums, provider networks, and drug formularies can change each year. Taking a little time to assess your plan could save you from unexpected changes in coverage or costs.

What if I miss the Open Enrollment deadline?

Unless you qualify for a Special Enrollment Period due to a major life event, you’ll need to wait until next year’s window to make changes. It’s crucial to mark your calendar and act within the AEP timeframe to avoid gaps in your healthcare coverage.

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

Original Medicare is government-managed and typically paired with separate drug coverage and optional Medigap. Medicare Advantage plans are offered by private insurers and often bundle medical and drug benefits, with some including extras like dental or vision.

When can I learn about next year’s plans?

Information for next year’s plans is available beginning in October. Call 1-800-MEDICARE or visit Medicare.gov. This early access allows you to compare plans thoroughly and make the best choice for your healthcare needs.

Understanding AEP gives you control over your healthcare decisions. Start researching early, use trusted resources like Medicare.gov, and speak with a professional if needed. Even a small review of your plan can lead to significant savings or better coverage in the year ahead.