Guide To Annual Enrollment

The Medicare Advantage and Prescription Drug Plan Annual Enrollment Period (AEP) runs from October 15 to December 7 each year and is the best time for Medicare beneficiaries to make changes to their current coverage. This is a good time to ensure you have all of the healthcare benefits available to you, that you have coverage that aligns with your budget and that you’re made aware of any changes made to your existing plan. 

While you may be overwhelmed with the amount of information out there on AEP, here’s a guide to help you prepare for enrolling in coverage during the Medicare Annual Enrollment Period 2024. 

When is Medicare Annual Enrollment Period for 2024?

Medicare Annual Enrollment Period for 2024 starts October 15 and ends December 7. Starting on October 15, Medicare beneficiaries have the ability to:

• Switch from Original Medicare (Medicare Part A and Medicare Part B) to a Medicare Advantage plan (Medicare Part C).
• Change from one Medicare Advantage plan to another Medicare Advantage plan.
• Switch from one Prescription Drug plan (Medicare Part D) to another or enroll in a Medicare Advantage Prescription Drug plan for more comprehensive coverage.
• Add a Prescription Drug plan if you didn’t enroll when first eligible for Medicare.

Things You Can’t Do During Medicare Annual Enrollment Period 2024

During the Medicare Advantage and Prescription Drug Plan Annual Enrollment Period, you cannot enroll in a new Medigap policy without going through the traditional underwriting process. AEP is the time to either switch from Original Medicare to a Medicare Advantage plan, or change from one Medicare Advantage plan to another. 

Do I have to change Medicare plans every year? 

There’s no requirement to change your Medicare plans during AEP every year. However, Medicare plan details can change annually, so it’s a good idea to compare plan options each fall to confirm your health and prescription drug needs are covered for the coming year. Even if you’re happy with your current Medicare plan, you’ll want to consider the following:

• Some plans may include benefits you could be missing out on including dental, vision, hearing coverage, and prescription drug coverage and transportation to appointments.
• You could be overpaying and lower premium plans may be available in your area.
• There may be changes to your existing plan that you need to be aware of. There also may be new or updated plans that better meet your needs and budget.

Who can enroll in Medicare during AEP 2024? 

All Medicare beneficiaries can review their current coverage for the upcoming year during AEP. A new addition last year was that individuals with End-Stage Renal Disease (ESRD) can enroll in Medicare Advantage plans. Individuals with ESRD have historically been prohibited from enrolling in Medicare Advantage plans without special qualifications, but can now compare their options for coverage during AEP alongside all other Medicare beneficiaries.

How to Enroll In Medicare During the Annual Enrollment Period 2024

There are many important factors to consider when shopping for coverage during AEP, so we put together a simple Medicare checklist to help you get organized before reviewing your coverage. Once you have considered your priorities and preferences, our licensed insurance agents can help you compare all of your available options for coverage. 

Find the Best Medicare Plans Available to You

The best way to understand your Medicare options during this year’s AEP is by getting in touch. In just minutes, we can compare all of the Medicare options available to you from some of the most trusted insurance companies. We’ll make sure you have the coverage you need at a price that works for your budget so that you can go into 2025 confident that your healthcare needs will be taken care of.