The Medicare Annual Enrollment Period: What You Can (and Should) Do
Every year, from October 15 through December 7, millions of Americans over the age of 65—and those with qualifying disabilities—enter a window of time that could significantly impact their health coverage and financial well-being. This window is called the Medicare Annual Enrollment Period (AEP).
Despite its importance, many people overlook the opportunity or don’t fully understand what it means. As a result, they may miss out on better benefits, lower costs, or improved healthcare provider access. In this article, we’ll break down what the AEP is, what you can do during this time, and most importantly—what you should do to make the most of it.
What is the Medicare Annual Enrollment Period (AEP)?
The Medicare Annual Enrollment Period is a set time each year when Medicare beneficiaries can review and make changes to their Medicare coverage. It was established to allow individuals to adjust their plans based on changing health needs, evolving plan options, and life circumstances.
During this time, you can switch Medicare Advantage plans, go back to Original Medicare, or add/drop prescription drug coverage. It’s your once-a-year opportunity to make informed decisions about your healthcare for the coming year.
When is the Annual Enrollment Period?
The AEP runs from October 15 to December 7 every year. Changes made during this period go into effect on January 1 of the following year.
Here’s what the timeline typically looks like:
If you miss this window, you’ll need to wait until the next AEP—unless you qualify for a Special Enrollment Period (SEP) due to specific life events like moving, losing other coverage, or entering/leaving a skilled nursing facility.
Despite its importance, many people overlook the opportunity or don’t fully understand what it means. As a result, they may miss out on better benefits, lower costs, or improved healthcare provider access. In this article, we’ll break down what the AEP is, what you can do during this time, and most importantly—what you should do to make the most of it.
What is the Medicare Annual Enrollment Period (AEP)?
The Medicare Annual Enrollment Period is a set time each year when Medicare beneficiaries can review and make changes to their Medicare coverage. It was established to allow individuals to adjust their plans based on changing health needs, evolving plan options, and life circumstances.
During this time, you can switch Medicare Advantage plans, go back to Original Medicare, or add/drop prescription drug coverage. It’s your once-a-year opportunity to make informed decisions about your healthcare for the coming year.
When is the Annual Enrollment Period?
The AEP runs from October 15 to December 7 every year. Changes made during this period go into effect on January 1 of the following year.
Here’s what the timeline typically looks like:
- October 1: Plan details for the upcoming year become available.
- October 15 – December 7: You can enroll, drop, or switch plans.
- January 1: New coverage begins.
Who is Eligible to Make Changes During AEP?
The AEP applies to all individuals who are:
This includes people over age 65, and younger individuals who qualify due to certain disabilities or end-stage renal disease (ESRD).
The AEP applies to all individuals who are:
- Enrolled in Medicare Part A (hospital insurance) and/or Part B (medical insurance)
- Already enrolled in a Medicare Advantage Plan or Part D prescription drug plan
- Looking to adjust their coverage to better suit their healthcare or budgetary needs
What You Can Do During AEP
During the AEP, you have the ability to make the following changes:
Review Your Current Plan’s Performance
Ask yourself:
If these are important to you, factor them into your decision.
The more you prepare, the more confident your decision will be.
Most advisors are paid by the insurance companies—not you—so there’s typically no cost to use their services. Look for advisors who are independent and represent multiple carriers for unbiased advice.
During the AEP, you have the ability to make the following changes:
- Switch from Original Medicare (Part A & B) to a Medicare Advantage Plan (Part C)
You may find a plan that includes extra benefits like dental, vision, or wellness programs. - Switch from a Medicare Advantage Plan back to Original Medicare
This may be beneficial if you want broader provider access or a different approach to care. - Change from one Medicare Advantage Plan to another
Plans vary by region and benefits—compare features like provider networks and out-of-pocket costs. - Join a Medicare Prescription Drug Plan (Part D)
If you didn’t enroll in Part D when first eligible, AEP is your chance to add it. - Switch from one Part D plan to another
Drug formularies and premiums change—shop around to make sure your medications are covered affordably. - Drop Medicare drug coverage entirely
Caution: this could lead to late enrollment penalties if you don’t have other credible drug coverage.
What You Should Do During AEP
Making changes during AEP isn’t just about switching plans—it’s about evaluating your current situation and making strategic decisions. Here are six smart actions you should take:
Review Your Current Plan’s Performance
Ask yourself:
- Did my plan meet my needs this year?
- Were my doctors and specialists in-network?
- Were my prescriptions affordable and covered?
- Were there unexpected out-of-pocket costs?
Analyze Your Annual Notice of Change (ANOC)
Your current plan will send you an ANOC document each fall. This outlines any changes in coverage, premiums, and copays for the coming year. Don’t ignore it—these changes can significantly impact your out-of-pocket costs.
Check if Your Medications Are Still Covered
Every year, Medicare Part D and Advantage plans may change their formularies (list of covered drugs). Confirm that your essential medications are still included and check their tier level for cost sharing.
Compare Plans Using the Medicare Plan Finder
Use the official Medicare Plan Finder tool to review plans available in your area. Compare based on cost, coverage, star ratings, and customer service.
Consider Your Health Needs for the Coming Year
If you anticipate more frequent doctor visits, surgeries, or specialty treatments, make sure your plan supports those needs.
Think Beyond Just Health Coverage
Many Medicare Advantage plans offer:
- Fitness memberships (Silver Sneakers)
- Dental, vision, and hearing services
- Transportation assistance
- Meal delivery after hospital stays
Top Mistakes to Avoid
While the AEP is an opportunity, it’s also a time when rushed or uninformed decisions can cause problems. Avoid these common mistakes:
Waiting Until the Last Minute
Leaving things until early December means less time to research, ask questions, or resolve technical issues.
Assuming “No Change” is the Best Strategy
Your current plan may have increased premiums or reduced benefits. Doing nothing could cost you.
Overlooking Drug Coverage
Failing to update your Part D plan could mean losing coverage for essential medications—or paying more for them.
Failing to Check Provider Networks
Just because your doctor is in-network now doesn’t guarantee they’ll be covered next year. Always verify.
Not Considering Total Out-of-Pocket Costs
Premiums are just one part of the equation. Evaluate deductibles, copayments, coinsurance, and out-of-pocket maximums.
How to Prepare for AEP
Preparation is key to maximizing your Medicare benefits:
- Create a medication list with dosages and frequencies.
- List your preferred doctors, specialists, and hospitals.
- Set reminders for October 15 and December 7.
- Speak to your current provider and ask about any expected plan changes.
The Role of Licensed Medicare Advisors
Choosing a plan on your own can feel overwhelming, especially when there are dozens of options with complex differences. A licensed Medicare advisor can help you:
Choosing a plan on your own can feel overwhelming, especially when there are dozens of options with complex differences. A licensed Medicare advisor can help you:
- Navigate plan details and fine print
- Identify options tailored to your health and financial needs
- Explain Medicare rules and potential penalties
- Provide ongoing support through the year
Final Thoughts
The Medicare Annual Enrollment Period is more than just a date on the calendar—it’s a powerful opportunity to take control of your healthcare. With changing health needs, shifting plan benefits, and evolving financial priorities, it’s crucial to assess your options annually.
Don’t wait until it’s too late. Take time now to review your current coverage, research alternatives, and seek guidance if needed. With a proactive approach, you can enter the new year confident that your Medicare plan is working for you—not the other way around.
The Medicare Annual Enrollment Period is more than just a date on the calendar—it’s a powerful opportunity to take control of your healthcare. With changing health needs, shifting plan benefits, and evolving financial priorities, it’s crucial to assess your options annually.
Don’t wait until it’s too late. Take time now to review your current coverage, research alternatives, and seek guidance if needed. With a proactive approach, you can enter the new year confident that your Medicare plan is working for you—not the other way around.
