There are three key enrollment periods.
Annual enrollment, also known as AEP, is Oct 15th-Dec 7th each year. This is the time when you can change your Medicare Advantage Plan or your Medicare Part D Prescription Drug plan. These changes, once made, will take effect on Jan 1st of the next year.
The open enrollment period, also known as OEP, is from Jan 1st through March 31st each year. During this time, it gives you the opportunity for Medicare Advantage plan members to make a plan change. This time allows you to change your Medicare Advantage Plan, or you may choose Original Medicare and find prescription drug coverage with a Medicare Part D Plan. Changes during this time take effect on the first of the month following the submission of the application.
Special enrollment period, also known as an SEP, are special qualifying events that can occur throughout the year that allow you to enroll in or change your Medicare Advantage Plan or Medicare Part D Prescription Drug Plan. These events can be, but are not limited to, moving to a new area, losing employer group coverage, or moving into a skilled nursing facility.
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