If you are enrolled in Medicare and missed the option to review and make changes to your coverage during the 2022 Medicare Annual Enrollment Period, there’s no need to worry! You will receive another opportunity to make the necessary reviews and changes during the 2023 Medicare Annual Enrollment Period.
When is the 2023 Medicare AEP?
The 2023 Medicare AEP will occur at the same time as it does every other year: October 15 through December 7. When you request to make changes to your coverage during this time, those changes will not take effect until January 1 of the new year.
Who Can Use the Medicare AEP?
This period is available to Medicare beneficiaries who are looking to join, switch, or drop their Medicare plan. The exact changes you can make include:
- Joining a Medicare Advantage plan if you’re enrolled in Original Medicare
- Dropping your Medicare Advantage plan and staying with Original Medicare
- Switching from one Medicare Advantage plan to another, either with or without prescription drug coverage
- Joining, switching, or dropping a Part D plan
- Switching insurers
If you are not yet enrolled in Medicare, you will not be able to use this period. If you need to enroll in Medicare for the first time, the best time to do so would be during your Initial Enrollment Period. If you miss your Initial Enrollment Period, you can enroll during the General Enrollment Period or you may be able to qualify for a Special Enrollment Period.
Should You Use the 2023 Medicare AEP?
The best way to determine if taking advantage of the 2023 Medicare AEP is the best decision for you is to review any documents your current Medicare plan sends to you regarding changes to your costs or coverage. This will help you analyze if your plan’s changes still meet your budget and coverage needs and if it does not, you have the right to find a plan that will!
To learn more about what to expect for this year’s upcoming Annual Enrollment Period, reach out to Toni Buffington Medicare Solutions today!