Medicare Open Enrollment Period

Medicare Open Enrollment (also called the Annual Enrollment Period, or AEP) runs from October 15 to December 7 each year. During this period, Medicare beneficiaries can:

- Enroll in Medicare Parts A and B if not already enrolled - Enroll in or switch Medicare Advantage Plans (Part C) - Enroll in or switch prescription drug plans (Part D) - Return to Original Medicare from Medicare Advantage - Change supplemental insurance (Medigap)

Medicare eligibility begins at age 65 for most people (with some exceptions for disabled individuals and those with end-stage renal disease). If you don't enroll during your Initial Enrollment Period, you can use Open Enrollment to get coverage, though late enrollment penalties apply.

Medicare Advantage and prescription drug plan premiums, deductibles, and coverage change annually. Open enrollment is the time to shop and ensure your plan still meets your needs and budget. Many beneficiaries find better plans or lower costs by switching, but about 70% don't review their options.

If you're still working at 65 and have employer coverage, you may not need to enroll in Medicare immediately, but contact your employer's HR department to confirm your specific situation and delayed enrollment rights.

Prescription drug coverage is particularly important: if you go without creditable drug coverage for more than 63 days and later enroll, you'll pay a permanent penalty. Drug plan reviews are critical, as formularies (covered drugs) change yearly.