Annual Enrollment Period

What Is the Annual Enrollment Period

The Annual Enrollment Period, which begins October 15 and ends December 7, allows individuals to make changes to their current Medicare plan or shift their current plan to a new one. 

Annual Enrollment Period in Medicare 

The Annual Enrollment Period is most evident in Medicare, where about 50 million enrollees choose to stay with Medicare or join other coverage plans like a Medicare Advantage Plan or a Medicare Part D prescription drug coverage plan.  

Why Do We Have An Annual Enrollment Period?

The Annual Enrollment Period is necessary to prevent Medicare beneficiaries from being unsatisfied with their current plan and coverage. Medicare makes changes every year that beneficiaries need to keep a note of to ensure that their plan stays the same. 

If you find that your plan has changed or that your health needs have changed, you need to review your current plan to ensure that you are getting the coverage you need at an affordable price.

To know if your plan is changing, you should always review the materials you are sent by your plan. This can include the Evidence of Coverage (EOC) or the Annual Notice of Change (ANOC).

The EOC is typically available in September abd provides details regarding the coverage of the plan, how much the plan is, etc. The ANOC is also available in September and provides details of any changes made to the plan, costs, or service area, which will become effective in January of the following year.

You can also receive information about the next year’s plans in the beginning of October.

Important Takeaways

It is vital to review your Medicare plan every year to ensure you receive the coverage you need and deserve. If this is not the case, the Annual Enrollment Period can allow you to find a Medicare plan that offers what you need.
To learn more about the Annual Enrollment Period and how you can accurately prepare for it, give Temmen Insurance a call today at (417) 633-7200.

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