FORT LEE, N.J., Oct. 10, 2018 /PRNewswire-PRWeb/ -- The annual Medicare Open Enrollment Period begins soon, starting October 15 and running through December 7, 2018. This period – also called the Medicare Annual Election Period (AEP) – is the annual enrollment period during which Medicare beneficiaries can make changes to, enroll in or switch Medicare Advantage plans and Medicare prescription drug plans.
Medicare beneficiaries must make changes to their Medicare Advantage plan (Medicare Part C) or Medicare prescription drug plan (Medicare Part D) during the Open Enrollment Period for their desired coverage to go into effect on January 1, 2019.
MedicareAdvantage.com has published a new online Medicare enrollment guide that helps explain how and when you can make changes to your Medicare coverage. The guide also includes a list of state-specific resources Medicare beneficiaries can use to find additional information and assistance.
During the 2018 Medicare Open Enrollment Period, Medicare beneficiaries can do any of the following:
- Change from Original Medicare (Medicare Part A and/or Part B) to a Medicare Advantage plan
- Change from a Medicare Advantage plan back to Original Medicare
- Switch from one Medicare Advantage plan to another
- Join a Medicare prescription drug plan
- Switch from one Medicare prescription drug plan to another
- Drop Medicare prescription drug coverage entirely
Industry professionals advise Medicare beneficiaries to review their current coverage and consider other plan options offered in their area. According to the Kaiser Family Foundation, only 1 in 10 Medicare Advantage enrollees changed their plan options, even though less expensive plans may be available.
"This is an important time for Medicare beneficiaries," says Ryan Shevin, Director of Digital Public Relations for TRANZACT, which owns and operates the consumer website MedicareAdvantage.com. "Every year, the Medicare Open Enrollment Period offers beneficiaries the ideal time to review their current Medicare coverage, compare plans in their area and get the best rates possible on the coverage they need."
To learn more about Medicare Advantage plans and what they may cover, visit MedicareAdvantage.com. For information on Medicare Supplement (Medigap) plans, visit MedicareSupplement.com.
SOURCE Medicare Advantage
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