The Medicare Annual Election Period, or AEP, runs from Oct 1 to Dec 7. There are some things everyone needs to do. Here are the essentials to make sure you make the most of this time when you can make some changes.
- Review your drug coverage. If you have an advantage plan, review the projected cost for the following year. If you have a standalone drug plan, review all plans and consider switching to a more suitable plan. The standalone plans change a lot and companies count on you not reviewing them.
- If you have a supplement, you don’t need to make any changes at this time.
- If you have an advantage plan, review the booklet your company will send to you called the Annual Notice of Change (ANOC). These are sent to you in September. If you don’t have one by Oct 1, call your company and ask that they send you another one. Some plans change dramatically and some plans get discontinued so make sure you know what’s happening to your plan.
- As always, your best bet is to work with an independent planner. If you want to work with me, start here: https://planenroll.com/?purl=David-Treadway