Medicare Annual Enrollment Period
Medicare open enrollment period is your chance to switch Medicare plans for the coming year.
In the workplace, you probably faced making choices about your health care plans each year in the fall. That’s the time rates and plan benefits would change. The same is true for certain types of Medicare insurance plans. Once a year – between Oct. 15 and Dec. 7 – you have a chance to change from your current plan to a different plan.
The Medicare open enrollment period – also referred to as the Medicare annual enrollment period (AEP) – impacts Medicare Advantage and Medicare Part D drug plans. If you have one of these plans and want to change to a different plan, the Medicare AEP is the one time during the year when you can do that. So do not miss the deadline!
The Medicare annual enrollment period for 2012 plans ended on Dec. 7, 2011. So if you missed it, you will have to wait until the next annual enrollment period that will begin Oct. 15, 2012 for plans that go into effect in 2013.
There are some exceptions to changing plans outside the Medicare annual enrollment period. If you move you may be able to change plans or, if for some reason, your plan is terminated. Also there are some Medicare Advantage and Medicare Part D plans that you can switch to anytime during the year. The Medicare plans carry a 5-Star rating, awarded by Medicare. There are just a handful of regional insurance companies that are rated 5 stars for 2012.
To learn more about the annual Medicare open enrollment period (Medicare AEP 2012) you can speak with an iQuote Medicare health plan advisor. They can help you understand your enrollment period. If you must wait for the next Medicare annual enrollment period, sign up for our monthly e-newsletter. We’ll keep you up to date on changes in Medicare and when the 2012 plans are available. That way you won’t forget when it is time to review your plan for next year!
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