The Medicare Annual Enrollment Period (AEP) runs from October 15 to December 7. This once-a-year window is an important opportunity to make necessary coverage changes for the year ahead. Here’s everything you need to know about AEP.
What Changes Can I Make During AEP?
The Medicare Annual Enrollment Period allows individuals already enrolled in Medicare to review their current coverage, compare options, and make plan changes. Any changes you make during AEP will begin on January 1.
During AEP, you may:
- Enroll into or switch from one Medicare Advantage plan (Part C) to another
- Disenroll from a Medicare Advantage plan and return to Original Medicare
- Add or change a stand-alone prescription drug plan (Part D)
Comparing plans can help you find lower out-of-pocket costs, expanded provider networks and more suitable prescription drug coverage. If you choose to drop coverage, be cautious! Dropping a drug plan without having other creditable coverage in place could result in penalties down the road.
What Happens If I Miss AEP?
If you miss the December 7 deadline, your ability to change plans becomes limited. Typically, you must wait until the next AEP unless you qualify for a Special Enrollment Period (SEP).
SEP’s are available to those who experience certain life events, including but not limited to:
- Making a permanent move
- Losing employer-based coverage
- Changes in Medicaid eligibility
Unless you qualify for a Special Enrollment Period, you may have to keep your current plan until the next Annual Enrollment Period if you miss the deadline. Medicare Advantage plan enrollees have an additional enrollment period called the Medicare Advantage Open Enrollment Period (MA OEP), but this doesn’t take place until next year.
AEP vs. MA OEP: What’s the Difference?
Many people confuse AEP with the Medicare Advantage Open Enrollment Period (MA OEP), but they are not the same.
Here’s the difference:
AEP takes place October 15 – December 7. It’s open to all Medicare beneficiaries and allows you to join, switch, or drop a Medicare Advantage or drug plan. You can make unlimited changes until the deadline, and those changes take effect January 1.
MA OEP takes place January 1 – March 31. It’s only for individuals already enrolled in a Medicare Advantage plan, and it allows you to make a one-time change. You can either switch to a different Medicare Advantage plan or go back to Original Medicare and add a stand-alone drug plan. Plan changes will take effect on the first day of the following month.
Bottom line: AEP is a broader and more flexible opportunity. Don’t miss it!
Act Before December 7
Each year, Medicare plans may change their premiums, provider networks, prescription drug lists, and coverage rules. Reviewing your options before the AEP deadline ensures you’re not caught off guard in January.
If you're satisfied with your current plan and it meets your needs for 2027, you don’t have to make changes. If your plan is still available next year, you’ll be automatically renewed if you do nothing. But it's still a good idea to double-check premium increases, changes to drug formularies, and network updates.
Key Takeaways
- Medicare Annual Enrollment Period ends December 7
- During AEP you can add, switch, or drop Medicare Advantage (Part C) and drug plans (Part D)
- Missing AEP could mean being locked into your current plan another year
The closer we get to the deadline, the chances of you speaking with a live agent dwindles significantly. Long hold times, voicemails, and redirections to Medicare.gov are imminent as AEP wraps up. If you need assistance from a licensed insurance agent, we’re here to help!
Don’t Wait -- Call Before the Deadline
The clock is ticking. Waiting until the last minute may deplete your chances of talking to a live agent altogether. Insurance is not something you want to leave to chance. Treat AEP like your personal health and finance rely on it—because they do.
The Medicare Annual Enrollment Period is your chance to get your insurance in order and prepare for next year. Review your plan and make changes before December 7 to secure the healthcare coverage that fits your needs in 2027.
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