Annual Election Period (AEP)

Annual Election Period (AEP) is a specified time frame during which individuals who are enrolled in certain types of health insurance plans, such as Medicare Advantage and Medicare Part D, can make changes to their coverage for the upcoming year.  

During the AEP, beneficiaries can enroll in or switch Medicare Advantage or Part D plans, as well as make changes to their existing coverage. The AEP typically runs from October 15th to December 7th each year, with changes taking effect on January 1st of the following year.

Here are some key features of the Annual Election Period:

• AEP is an opportunity for beneficiaries to make changes to their Medicare Advantage and Part D coverage.

• The AEP only applies to individuals who are already enrolled in Medicare Advantage or Part D plans.

• During the AEP, beneficiaries can enroll in, switch, or drop their Medicare Advantage or Part D plans.

• Any changes made during the AEP will take effect on January 1st of the following year.

• The AEP runs from October 15th to December 7th each year.

For example, let's say that John is currently enrolled in a Medicare Advantage plan, but he wants to switch to a different plan that better fits his needs. John can use the AEP to enroll in the new plan or switch to it, as long as he does so between October 15th and December 7th. The changes he makes during the AEP will take effect on January 1st of the following year.