Annual Enrollment Period (AEP) Tips for Medicare Beneficiaries

Medicare Annual Enrollment Period Runs October 15th – December 7th

It’s that time of the year when Medicare beneficiaries in Arkansas will soon be getting a lot of Medicare mail and seeing the Medicare ads. The superbowl of Medicare is upon us. I wanted to share a few tips to keep in mind during this time of intense marketing to our local beneficiaries.

Compare 2022 Medicare Advantage or Medicare Part D Prescription Drug Plans Now!

This year the Annual Election Period (AEP) is open from October 15th – December 7th. Anyone on Medicare can change their Medicare health plan or prescription drug coverage to better fit their needs. Medicare health and drug plans can make changes year to year. Pay attention to your annual notice of change letter. A plans formulary, cost, or network can change each year. The letter details everything that is changing in the plan next year.

During the Annual Enrollment Period you can apply for a new prescription drug plan (Part D), apply for a new Medicare Advantage plan (Part C), or leave your Medicare Advantage plan and get on Original Medicare

During the AEP, you can make as many changes as you want. If you make a plan change and feel like the change wasn’t in your best interest you have until the end of AEP to correct it. The last change will be your Medicare plan for the following year and be in effect starting January 1st, 2022.

If you have a standalone Part D drug plan, you may also have a Medicare Supplement Insurance. The benefits on Medicare Supplements do not change from year to year. If you want to change from one Medicare Supplement to another you will still have to answer health questions.

Contact a Local Agent for Help

If you have questions remember locally licensed agents can help you review your Medicare plan, and guide you through Medicare health and drug plan changes. This service is no cost to you, and you are not obligated to purchase a new Medicare plan.

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