According to the Centers for Medicare & Medicaid, more than 10,000 people are turning 65 every day and may qualify for Original Medicare insurance. Once an individual obtains the core parts of Medicare, other options may lower out-of-pocket costs. Some beneficiaries choose to get their coverage from Part C Medicare Advantage plans.
Medicare’s Annual Election Period (AEP) runs Oct. 15 through Dec. 7 and is an important season for all beneficiaries. It’s when the details are released about Medicare Advantage and Prescription Drug Plans for the coming year.
Each year, Oct. 15 through Dec. 7 is the Medicare Annual Election Period (AEP). During AEP, you will have the opportunity to explore and choose your Medicare coverage for 2021. You will have many choices, which includes selecting a Medicare Advantage plan or staying with your current option. Even if you are satisfied with your current option, it is important to review your Medicare plan during AEP.