Medicare Advantage Enrollment Periods.
Medicare Advantage has certain enrollment periods that Medicare beneficiaries need to be aware of when it comes to signing up for or changing Medicare Advantage plans. Below is a brief description of each enrollment period and how it could affect you.
Initial Election Period (IEP)
- When a Medicare beneficiary is first eligible for Medicare. This period begins three months before the entitlement to both Medicare Part A and Part B and ends on the last day of the third month after entitlement to Part A and Part B.
- Can enroll in a MAPD (Medicare Advantage Plan with drug coverage).
- Enroll in stand-alone Part D.
Annual Election Period (AEP)
- Occurs each year from October 15th– December 7th.
- Allows all Medicare Advantage and Part D eligible beneficiaries to enroll and/or change plans.
- Allows beneficiaries to change back to Original Medicare and, if chosen, enroll in a Medicare Supplement (Medigap) plan and/or drug plan.
- Beneficiaries may choose more than one plan during AEP, however the last plan chosen before December 7th will be the plan that takes effect.
MA Disenrollment Period (MADP)
- Occurs each year from January 1st-February 14th.
- Allows all Medicare Advantage and Part D eligible beneficiaries to request disenrollment from their plan and return to Original Medicare and, if chosen, enroll in a Medigap and/or drug plan. This will result in automatic termination from the MA plan chosen during the Annual Enrollment Period (AEP).
Special Enrollment Period (SEP)
- MA and Part D eligible beneficiaries, who have experienced a certain qualifying event, will have rights to change his/her plan.
- There is no specific time of the year that an SEP can take place, which is what makes it special.
- If given a Special Enrollment Period, it typically will last for up 63 days from prior coverage. During this time, an eligible beneficiary will have guaranteed rights to enroll in certain plans.
- Some examples of a SEP are: change in residence, involuntarily loss of credible coverage, gaining or losing Medicaid eligibility.
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At Senior HealthCare Solutions, we take the time to assess your situation and review all plans to see which will be the best fit for you. To compare compare Medicare Advantage Plans and find the best Medicare Advantage Plans in your area, call us today by dialing 1-866-MEDIGAP (633-4427) or complete our Contact Form and one of our licensed advisers will be in touch.