When Can I Make Changes to My Medicare?
September 12, 2023 | Todd Lewison
If you are starting Medicare or if you are currently on Medicare, it is important to know when you have the option to change your plan coverage. We’ll address the key timeframes to be aware of so you can feel empowered when making your Medicare decisions.
When Can I Change My Medicare?
When you begin Medicare or are on a Medicare plan, there are designated time frames in which you can elect Medicare coverage or make changes to your existing plans. As with individual or group health insurance, you cannot change at any time of the year. Keep reading to learn more about changing your Medicare plan selection once you are enrolled in Medicare.
To learn more about choosing Medicare coverage when you first enroll in Medicare, visit our How to Enroll in Medicare page.
Medicare Annual Election Period (AEP)
The Medicare Annual Election Period, commonly referred to as AEP, is the most significant time of year in the Medicare world. AEP runs from October 15th – December 7th each year. This is when you can make changes to your Medicare plans for the upcoming year. You can make as many changes to your plan elections during this time, and the last plan you enroll in is the plan you will have for the new year.
Special Enrollment Periods
During a Special Enrollment Period, commonly referred to as an SEP, you have the opportunity to modify your Medicare Advantage and prescription drug plans. Various life events such as relocating to a different area, or leaving an employer can make you eligible for changing plans with a SEP. Working with an experienced Medicare insurance agent can help you understand your Medicare plan options and determine if you qualify for a special election period.
Medicare Advantage Open Enrollment Period (MA OEP)
During the Medicare Advantage OEP individuals enrolled in a Medicare Advantage (MA/MAPD) plan have an opportunity to choose a different plan (limitations apply on plans you can change to). The period runs from January 1st to March 31st each year.
Choosing a Medicare plan can be difficult. Twin City Underwriters helps Medicare recipients in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa and Florida find the Medicare plan that meets their unique needs. Schedule a one-on-one meeting with one of our Medicare insurance brokers to get your questions answered!
Do you need help with Medicare, insurance and health plans? Explore your options with Allina Health Aetna, Blue Cross/Blue Shield of Minnesota, Medica and UCare. We work with you to find the best plan for your needs and budget. Contact us today to get started.