The Medicare Annual Enrollment Period (AEP) is an important time of year for millions of Medicare-eligible Americans. During AEP, also known as the Annual Election Period, Medicare beneficiaries have the opportunity to review their current Medicare coverage and make changes if necessary.
In this article, we'll provide a guide to the fall Annual Enrollment Period for 2024.
The Medicare Annual Enrollment Period runs from October 15th to December 7th each year. This is the time period when Medicare-eligible consumers can make changes to their Medicare coverage to ensure it meets their healthcare needs for the upcoming year. Any changes made during the Annual Enrollment Period will take effect on January 1st of the following year.
The Medicare Annual Enrollment Period is a crucial time for Medicare-eligible consumers to evaluate their healthcare needs and make necessary changes to their Medicare coverage. During the Annual Enrollment Period, there are several changes that beneficiaries can make to their Medicare coverage, including:
Remember: Any changes you make during the Medicare Annual Enrollment Period will take effect on January 1st of the following year, so you should take advantage of this period to review your current coverage and make any necessary changes to make sure you have the right Medicare coverage for your needs.
In addition to the Medicare Annual Enrollment Period, Medicare has several other enrollment periods when beneficiaries can make changes to their plans. These enrollment periods include:
Note: You can only use this enrollment window if you already have a Medicare Advantage plan. You can’t use this period to get into a plan for the first time.
Here are some tips to help you prepare for the AEP:
Medicare Advantage plans are appealing to many for several reasons:
If you’re eligible for Medicare and have limited income, programs may be available to help you save on Medicare costs.
The Medicare Savings Program can help pay for some of your out-of-pocket costs, such as copays, deductibles, and premiums for Medicare Part A and Part B. Most of these programs are for beneficiaries who also qualify for Medicaid.
Not to mention, Medicaid covers the majority of your costs when you join a Medicare Advantage Special Needs Plan. You can check if you qualify for these programs by contacting your local Medicaid office.
If you need help paying for the costs of your part D drug costs, you can also see if you qualify for Extra Help. This program is designed to reduce the costs of Medicare prescription drug plans. If you have an existing Medicare prescription drug plan or plan to join one during the AEP, you can visit the Social Security website to check your eligibility for Extra Help. This program can provide significant cost savings for those who qualify, making it easier to afford necessary medications.
Finding the right Medicare plan for your needs can be a daunting task. But you can begin comparing and reviewing 2024 Medicare Advantage plans starting October 1.
Just contact our licensed insurance agents seven days a week by calling us toll-free at 1-800-620-4519 (TTY 711) weekdays from 8 a.m. to 8 p.m. EST.
You can also use our Medicare Advantage plan comparison tool to help you assess your needs, view Medicare plans in your area, and find a Medicare Advantage plan to match those needs.
Tip before you call us during AEP!
Be sure to have these 3 items handy before you call us or enroll in a Medicare plan online:
Our licensed insurance agents are available to help. Call us toll-free at 1-888-605-1433 (TTY 711).
Weekdays: 8am – 8pm EST
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