Discover six important actions you can carry out during the Annual Election Period to enhance your Medicare coverage. The enrollment period, which takes place every year from the 15th of October to the 7th of December, gives you the flexibility to do 6 things.

Here are 6 things you can do during the Medicare Annul Election Period from Oct. 15th to Dec. 7th.

1. Convert from Original Medicare to a Medicare Advantage plan that provides additional coverage for specialized treatments like dental, vision, and hearing care if your research indicates reduced costs and improved benefits.
2. Switch from a Medicare Advantage plan to Original Medicare if you require more valuable and comprehensive healthcare options without service area restrictions or limitations.
3. Transfer from one Medicare Advantage plan to another if you found a new plan with improved and advantageous coverage options that cater to your healthcare needs.
4. Enroll in Part D Prescription Drug Plan if you're transferring from a Medicare Advantage plan with Part D to Original Medicare to avoid a late enrollment penalty unless you possess prescription drug coverage from another source.
5. Switch from one Part D plan to another if you find another plan with better and beneficial services, that matches your specific health demands for your medication expenses.
6. Cancel a Part D plan entirely if you convert from Original Medicare's stand-alone Part D plan to a Medicare Advantage Plan with Part D or you get employer-based medication benefits. Remember, any alterations you make during the Annual Election Period commence on the 1st of January of the subsequent year.

It is crucial to review your Medicare Advantage (MA) or Part D plan during the Annual Election Period (AEP) because it can save you money and ensure that you have the best coverage for your healthcare needs. MA plans and Part D plans can change their benefits and costs every year, and if you don't review them, you could miss out on potential savings or benefits.

During the AEP, you can evaluate if your current plan still provides the coverage and benefits you need. You can also compare your plan's costs, including premiums, deductibles, and copays, to other plans in your area. This will help you determine whether you could get the same or better coverage elsewhere for less money.

Additionally, if you're not happy with your current MA or Part D plan, you can switch to another plan during the AEP. This is the only time of the year when most people can change their plans, so it's important to take advantage of this opportunity.

In summary, reviewing your MA or Part D plan during the AEP is essential to ensure that you have the best plan for your healthcare needs and budget. By doing so, you could save money and have better overall health outcomes.

To find out what type of coverage may be best for you go here: Medicare Coverage Worksheet