Medicare’s 2021 Annual Election Period (also known as AEP Open Enrollment) starts on October 15th and ends on Dec 7th.
What is AEP Open Enrollment 2021?
Open Enrollment is the misnomer for the Annual Election Period that arrives at the end of each year. It is the best time to switch your Medicare Part D and/or your Medicare Advantage (MA) plan.
Part D plans change their drug coverage lists and co-pays every year. This is why you may want to switch your plan so that it better suits your drug needs during AEP/
Your Medicare Advantage plan can also change its network of doctors and facilities, change they way they cover a medical service, and/or add additional benefits like dental, vision, and hearing. Once again, you might want to contact us on AEP to get on a new plan for the following year.
When is Medicare’s 2021 AEP Open Enrollment?
Medicare’s AEP takes place from October 15th to December 7th. The effective date of the plan will always be January 1st. Spoiler alert: AEP is the same time every year.
Does Medigap have an Open Enrollment for 2021?
No. Medigap does not have an Open Enrollment. You can switch from one Medigap plan to another during this time, but you may need to go through medical underwriting. Additionally, if you want to switch from Medicare Advantage to Medigap, you will also have to answer questions on your medical condition unless you qualify for Special Enrollment.
That being said, if you are planning to switch from MA to Medigap, this is the best time for switching. You can terminate MA and start your Medigap coverage on Jan 1. Call us for help at 800-930-7956 as switching plans is our specialty.
Can I Switch My Part D or MA plan outside of AEP?
There are some circumstances when you can. If you moved out of your plan’s area or for some reason your plan misleads you, you can switch.
You can also switch if you qualify for the Medicare 5-star rule. The 5 star rule takes place if your current MA or drug plan is not rated 5 stars, and you find a 5 star plan available in your area. If this is the case, you can switch to the 5 star plan at anytime of the year.
Finally there is an Medicare Advantage Open Enrollment Period (OEP) that runs from January 1st to March 31st. OEP is designed to help those who are unhappy with their current Medicare Advantage plan switch plans or return to Original Medicare.
NEXT STEPS?
If you would like help switching plans or finding the somewhat rare 5-star plan, call our licensed independent insurance agents at 800-930-7956. There is never a fee for our services and, since Medigap pricing is regulated, no one can sell the same plan for less than we do.