What is the Annual Enrollment Period?

One of the enrollment periods for existing Medicare beneficiaries is the Annual Enrollment Period. The Annual Enrollment Period is an opportunity for people who are enrolled in Medicare to review and make changes to their current Medicare coverage. 

Annual Enrollment Period Explained

Once you are enrolled in Medicare, you will have the option of reviewing your coverage each year during a specified period from October 15 through December 7, which is known as the Annual Enrollment Period.

The entire purpose of this enrollment period is so beneficiaries can review their coverage and see what changes will be made to their plan for the upcoming year. These changes can include differences in coverage or even cost increases. 

Fortunately, if any changes will be made, you will receive notices from your plan. One notice you should receive in September is known as the Annual Notice of Change (ANOC). This notice will have information relating to changes in the coverage, cost, or service area.

Another notice is the Evidence of Coverage. You should also receive this from your plan in September and will provide you details about the plan’s coverage, what you pay, and more. 

If you receive these notices, it is very important that you review them to make sure you are happy with the changes that will be made. If you are not, then the Annual Enrollment Period will give you a chance to switch to a different plan that will provide you with what you want.

What Changes Can I Make?

There are several plan changes you can make during this period:

  • If you are enrolled in Original Medicare, you can switch to a Medicare Advantage plan.
  • If you are enrolled in a Medicare Advantage plan, you can switch back to Original Medicare or to a different Medicare Advantage plan.
  • You can enroll in a Part D plan to get prescription drug coverage.
  • If you already have Part D, you can switch to a new Part D plan or drop Part D completely.

If you need help with reviewing your coverage and making a switch to new coverage during the Annual Enrollment Period, contact InvoBH today. Our goal is to help you find coverage that works for you and meets your needs. We will even help you compare other Medicare options and your specific coverage or budget needs to determine which plan may work for you.

Call us today!