Annual Enrollment Period Explained

A quick overview of what to expect during the time of year where anyone can change their Medicare plan.

Annual Enrollment Period or AEP

Starts October 15th and ends December 7th  every year.

This is the time of year that you make changes to your Medicare Advantage or Prescription Drug plans.

The December 7th date does not apply to those retiring at the end of the year and enrolling in Medicare and supplemental plans for the first time. These individuals will have until the end of the month to enroll.

Generally there will be a rate increase and modifications to the Medicare Advantage, and Prescription plans. Medicare Supplement Plans renew during the year and are not part of the Annual Enrollment Period.

Please aware that the advertisements on TV that offer dental and vision are not offering full dental and/or vision coverage. It is coverage for dental cleanings and vision offers a basic vision exam and  only a small reimbursement for glasses. They are very nice benefits to have, just not full coverage like some of the ads seem to imply.

And as advertised, many plans have no monthly premiums beyond the Part B premium, no deductibles and $0 copay for your primary care doctor and some very low-cost drugs. There will however be some tradeoffs for these benefits, so it is always good to look at ALL the benefits before making a final choice.

What do you will need to do

If you are happy with your plan(s) and the changes for 2021, you do not have to do anything. Your plans automatically renew unless you make changes.

If you have seen plans advertised, or heard from a friend, I can look at how they would work for you. The key will be if your providers and prescriptions are covered and how. 

If you are unhappy with your plan(s) we should do a review.

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