Every fall, Medicare gives you the opportunity to take a fresh look at your plan. This window of opportunity, called the Annual Enrollment Period (AEP), runs from October 15 – December 7.
During this time, Medicare recipients can make changes to their health and drug coverage for the upcoming year. This is your one chance when you can determine whether your current coverage is still working for you.
Here’s what you can do during AEP:
1. Switch from Original Medicare (Medicare Parts A and B) to a Medicare Advantage Plan (Medicare Part C), or vice versa
2. Change from one Medicare Advantage Plan to another
3. Join, switch, or drop a Medicare Part D prescription drug plan
4. Update coverage to better suit your health or financial needs
Why does this matter? Well, your health needs may shift from year-to-year and plans themselves can (and do!) change.
Premiums, deductibles, and the list of covered prescriptions (called a “formulary”) may look different in January than they did last year. Taking a little time during the Annual Enrollment Period to compare options could save you money and ensure your doctors and medications are still covered.
Your plan will send you an Annual Notice of Change (ANOC) by the end of September. In additional to premium, deductible and formulary changes, the ANOC also highlights changes to copay amounts, out-of-pocket maximums, benefits and perks.
If you are happy with your current plan and there are no major changes to it or to your health, you need not act – your coverage will renew automatically.
However, if you do decide to change plans, any changes made during the Annual Enrollment Period will take effect on January 1 of the following year.
The Annual Enrollment Period is about giving you control and flexibility. Think of it as your Medicare Plan’s yearly “checkup”.
Do not miss this golden opportunity to ensure your plan is still the right fit for 2026; your health, your lifestyle and your budget will all thank you for it!
