How to Change Your Medicare Plan During the Annual Election Period
October 15, 2018 | Todd Lewison
Do you want to make changes to your current Medicare Advantage or Medicare Prescription Drug plan? During the Annual Election Period, you can make changes to your Medicare Advantage or Medicare Prescription drug coverage for the following year.
When is the Annual Election Period?
The Annual Election Period runs from Oct 15th-Dec 7th of each year. Plan changes made between this time frame are effective for January 1st of the next year. In general, this is the only timeframe you can make changes to your current elections (unless you qualify for a Special Election Period).
What Can I Do During the Annual Election Period?
- During the Annual Election Period, you can…
- Change from Original Medicare to a Medicare Advantage Plan (or vice versa)
- Switch from one Medicare Advantage Plan to another Medicare Advantage Plan
- Join a Medicare Prescription Drug Plan
- Switch from one Prescription Drug plan to another Prescription Drug Plan
- Drop your Medicare Prescription drug coverage completely
Additional Information
Plans will release their new policy information on Oct 1st. At that time, you will receive important documents from your current plan, such as:
- Annual Notice of Change (ANOC): outline the changes to your current coverage for the following year.
- Evidence of Coverage: a full breakdown of the policy.
It’s important to review these documents to see if any changes need to be made. If you are still satisfied with your current plan, your plan will automatically renew for the following year.
If you have additional questions about the Annual Election Period, switching to a new plan, or staying with your current plan, we are here to help!
