What is the purpose of the Medicare Annual Election Period?

The Medicare Annual Election Period serves as an essential opportunity for beneficiaries to review their current Medicare plans and make changes as needed. This period typically runs from October 15 to December 7 each year, during which individuals can switch from Original Medicare to a Medicare Advantage plan, change from one Medicare Advantage plan to another, or enroll in a standalone Medicare prescription drug plan.

By allowing beneficiaries to assess their healthcare needs, compare coverage options, and select a plan that best meets their requirements, this period ensures that individuals have the ability to make informed decisions regarding their healthcare coverage. It's a crucial time for beneficiaries to analyze their existing plans, considering factors such as costs, coverage changes, and network providers, to ensure they are receiving the best possible care for the upcoming year.