What is AEP for?

Before you can even begin enrolling in Medicare, you must first be eligible. To be eligible for Medicare in Idaho Falls, ID, you must be:

  • Older than 65
  • Under 65 with a disability and receiving disability benefits
  • Diagnosed with End-Stage Renal Disease (ESRD)
  • Diagnosed with Amyotrophic Lateral Sclerosis (ALS)

Once you are eligible, you can go ahead and enroll for Medicare during the Initial Enrollment Period. This period begins three months before you turn 65 and ends three months after you turn 65. But once you are enrolled, that doesn’t mean you don’t have to check your coverage every now and then. In fact, every year, changes can occur with your Medicare plan’s costs and coverage, which will require you to review the changes made and determine if the plan you are enrolled in is still right for you.

The Medicare Annual Enrollment Period is an enrollment window that happens once a year and allows you to make those reviews and changes to your Medicare Advantage and Medicare Part D plans. Here are the things you need to know about the Annual Enrollment Period.

What Is Medicare’s Annual Enrollment Period (AEP)?

This is a yearly period when Medicare members can evaluate their existing health coverage and benefits to make changes if needed. Medicare’s Annual Enrollment Period starts on October 15 and ends on December 7, with the changes taking effect on January 1. 

During the AEP, the changes you can make include:

  • Changing to a Medicare Part C plan from Original Medicare, or vice versa.
  • Changing from one Medicare Part C plan to another Part C plan.
  • Enrolling for a Medicare Part D prescription drug plan.
  • Changing from one Medicare Part D drug plan to another plan.
  • Dropping your Medicare Part D drug plan.

Why You Should Review your Medicare Plan Every Year

If you are pleased with your current Medicare plan, you are not required to take action during the Medicare Annual Enrollment Period. However, changes are made to costs, coverage, and benefits annually. So, documents sent from the plan, such as the Annual Notice of Change (ANOC) and Evidence of Coverage (EOC), should be reviewed to determine what changes will be made and how they will impact you.

If you live in Idaho Falls, ID, and need to make changes during the Annual Enrollment Period, you will have several plans to choose from. To be more specific, you will have about 40 different plans to choose from, with 8 of them including prescription drug coverage.

For more information about the Medicare Annual Enrollment Period and your Medicare options in Idaho Falls, please contact Generations Insurance. Our Medicare experts can help you compare plans so that you can make informed decisions about your coverage.