Summary: The Medicare Annual Enrollment Period, sometimes referred to as the Medicare Open Enrollment Period, occurs annually from October 15th to December 7th. During this time, you can make a number of changes to your coverage including joining, switching, and dropping Medicare Advantage plans or Medicare Part D plans. In this article, we’ll detail each change you can make during the Medicare AEP and what considerations you should make before making those changes. Estimated Read Time: 6 min
What Is the Medicare Annual Enrollment Period?
The Medicare Annual Enrollment Period is an opportunity for Medicare beneficiaries to make changes to their coverage that go into effect on the first day of the following year.
The Medicare Annual Enrollment Period for 2025 begins October 15th and ends December 7th
The Medicare AEP occurs every year from October 15th through December 7th. This enrollment period is important for ensuring you have the coverage you need going into the new year. Whether you have Original Medicare, or are already enrolled in a Medicare Advantage plan, you have many choices for changing your coverage during the AEP.
When you make a change to your coverage during the Annual Enrollment Period, your new coverage will become effective on January 1st of the following year.
Original Medicare and the Annual Enrollment Period: Changes You Can Make
If you have Original Medicare (Part A and Part B), you can make the following changes to your coverage during the Annual Enrollment Period:
- Enroll in a Medicare Advantage plan
- Enroll in a Medicare Part D Prescription Drug plan
- Enroll in a Medicare Supplement Plan
- Make no changes and keep your coverage as-is
It’s important to know that you cannot enroll in Original Medicare during the Annual Enrollment Period if you did not get coverage when you first became eligible. If you missed your Initial Enrollment Period, you will need to wait until the General Enrollment Period to get Original Medicare (unless you qualify for a Special Enrollment Period).
You may be subject to underwriting if you have Original Medicare and want to enroll in a Medicare Supplement plan during the AEP.
Medicare Advantage and the Annual Enrollment Period: Changes You Can Make
If you are enrolled in a Medicare Advantage plan, you can make various changes to your coverage during this time. During the Annual Enrollment Period, you can:
- Switch from one Medicare Advantage plan to another (with or without drug coverage)
- Drop your Medicare Advantage plan and return to Original Medicare
- Make no changes and keep your coverage as-is
When you pick up or change Medicare Advantage plans during the Annual Enrollment Period, your new coverage will begin on January 1st of the following year. You must ensure the plan carrier receives your request by December 7th for your coverage to go into effect on time.
Medicare Part D and the Annual Enrollment Period: Changes You Can Make
During the Annual Enrollment Period, you can make several changes related to your Medicare Part D Prescription Drug coverage. You can:
- Switch from one Medicare Part D plan to another
- Disenroll from a Medicare Part D plan
- Disenroll from a Medicare Part D plan and enroll in a Medicare Advantage plan
- Make no changes and keep your coverage as-is
If you didn’t enroll in a Medicare Part D plan when you first became eligible for Medicare, the Annual Enrollment Period is your only opportunity (outside of a Special Enrollment Period) to enroll in a plan.
Any changes to your Medicare Part D coverage during the Annual Enrollment Period will go into effect on January 1st of the following year.
Medicare Supplement Plan Changes During the Annual Enrollment Period
During the Annual Enrollment Period, there are no special guidelines in place for those with coverage through a Medicare Supplement (Medigap) plan. You can enroll in and disenroll from a Medicare Supplement plan at any time. However, if you enroll in a Medicare Supplement plan outside of your Medicare Supplement Open Enrollment Period, you may need to answer questions about your health.
If you have a Medicare Advantage plan and wish to return to Original Medicare so you can get a Medicare Supplement plan, the Annual Enrollment Period is a good time to do so. The Medicare AEP is one of few periods in which you can disenroll from a Medicare Advantage plan and return to Original Medicare. Once you no longer have a Medicare Advantage plan, you can enroll in a Medicare Supplement plan*.
*You may need to undergo medical underwriting and are not guaranteed a policy.
Considerations to Make During the Medicare Annual Enrollment Period
Prior to the Medicare Annual Enrollment Period, you should take time to review your current coverage to determine whether it still fulfills your medical and financial needs. Below are some considerations you should make before and during the Annual Enrollment Period:
- Will my premiums increase next year?
- Is my doctor and/or pharmacy staying in my plan’s network?
- Are my medications and dosages still part of my prescription drug plan’s formulary?
- What additional benefits are available to me?
If you are enrolled in a Medicare Advantage plan or Medicare Part D Prescription Drug Plan, you will receive an Annual Notice of Change from your plan carrier prior to the Annual Enrollment Period. This notice will outline all major changes to your plan for the upcoming year and can include cost changes, network changes, and changes to formularies.
You’ll want to review your Annual Notice of Change carefully to ensure that you are still satisfied with your coverage. If you determine that your plan no longer fulfills your needs, you can change plans beginning October 15th.
If you are satisfied with your current Medicare coverage, you do not need to make any changes during the Annual Enrollment Period. Your coverage will renew as-is for the next year.
Other Things You Should Know About the Medicare AEP
- The Medicare Annual Enrollment Period, or Medicare AEP is also referred to as the Medicare Fall Enrollment Period or the Medicare Open Enrollment Period. If you hear someone refer to those periods, they are most likely talking about the timeframe from October 15th to December 7th. (Note that the Medicare Advantage Open Enrollment Period and the Medicare Supplement Open Enrollment Period are separate timeframes from the Medicare Annual Enrollment Period).
- There is no limit to the number of changes you can make during the Medicare Annual Enrollment Period. However, be mindful that this enrollment period ends on December 7th. Whatever coverage elections you have once the AEP ends will go into effect on January 1st.
The Medicare Annual Enrollment Period is a great opportunity to ensure you have the coverage you need going into the new year. If you have questions about Medicare’s AEP and would like to speak with a licensed agent, give us a call at the number above.
If the AEP is approaching and you’d like to learn more about Medicare Advantage plans, Medicare Part D plans, and Medigap plans, you can do so by checking out our resources below.
Medicare Advantage Plan Coverage
You can join, switch, or drop a Medicare Advantage plan during the Annual Enrollment Period. Learn more about Medicare Advantage plan coverage here.
Medicare Prescription Coverage
The Annual Enrollment Period is one of few opportunities you’ll get to join or change your prescription drug coverage. Learn more about Medicare drug coverage and what to look for when comparing plans.
Though the AEP doesn’t offer special enrollment guidelines, you can enroll in a Medicare Supplement plan at this time. You may have to answer health questions. Learn more about Medigap and underwriting here.
Sources
Medicare and You 2024 The Official U.S. Government Medicare Handbook, Medicare.gov. Accessed February 2024.
https://www.medicare.gov/publications/10050-Medicare-and-You.pdf
Medicare Open Enrollment, Centers for Medicare & Medicaid Services. Accessed February 2024.
