The 2022 Annual Election Period, or AEP, runs from October 15 and December 7. During AEP, Medicare recipients can change their Medicare and prescription drug plans for the following year. Even if you’re happy with your current plan, it’s important to review it during AEP. There may be changes to your plan’s premiums, benefits, and networks.
What You Can Do During the 2022 Annual Election Period
During AEP, you can do things like:
- Change from Original Medicare to a Medicare Advantage Plan (or vice versa)
- Switch from one Medicare Advantage Plan to another
- Join a Medicare Part D prescription drug plan
- Switch from one Part D plan to another
- Drop your Medicare prescription drug coverage completely
Before AEP, make sure you review your Annual Notice of Change (ANOC) and Evidence of Coverage (EOC) documents. You’ll receive these documents from your insurance carrier in September or the beginning of October.
The 2022 Annual Election Period is important, because it’s the only time of year that you can make changes to a Medicare plan, unless you have a qualifying event. Things change in your life, whether it be an illness or injury, lifestyle change, or even fun plans like traveling. These are all factors to consider when deciding on your Medicare plan for the next year.
If you want help understanding your ANOC, determining whether you have the Medicare coverage you need, or simply getting questions answered, our experienced agents are here for you. Get in touch today.
Choosing a Medicare plan can be difficult. Working with an insurance broker can help you find a plan that fits your needs. Schedule a one-on-one meeting with one of our Minneapolis insurance brokers to get your insurance questions answered!