Every fall, Medicare beneficiaries get a window to revisit their coverage. The Annual Election Period (AEP) runs from October 15 through December 7, and any changes you make take effect on January 1 of the following year.
This is not just a formality. Plans change their formularies, adjust premiums, alter provider networks, and modify cost-sharing structures every year. A plan that worked well for you this year may not be the same plan next year — even if the name stays the same.
What You Can Do During AEP
The Annual Election Period gives you several options:
- Switch from one Medicare Advantage plan to another. If your current plan has changed its network, raised copays, or dropped a pharmacy you use, you can move to a different Medicare Advantage plan.
- Switch from Medicare Advantage back to Original Medicare. If you want to return to Original Medicare (Parts A and B), you can drop your Medicare Advantage plan during AEP. You would also want to enroll in a standalone Part D plan for prescription coverage.
- Enroll in a Medicare Advantage plan from Original Medicare. If you have been on Original Medicare and want to try a Medicare Advantage plan, this is your window.
- Change your Part D prescription drug plan. Even if you stay on Original Medicare, you can switch to a different Part D plan that better covers your medications or has a lower premium.
- Drop Part D coverage entirely. This is generally not recommended, as it may trigger a late-enrollment penalty if you need coverage later.
What you cannot do during AEP: enroll in or change a Medicare Supplement (Medigap) policy. Medigap enrollment follows different rules and timelines.
For the full AEP guidelines, visit Medicare.gov.
Why Your Plan Changes Even If You Do Nothing
Insurance carriers file new plan terms with CMS (the Centers for Medicare & Medicaid Services) each year. These changes may include:
- Formulary updates. A medication that was covered at a low tier this year may move to a higher tier — or be removed entirely — next year.
- Premium adjustments. Your monthly premium may increase or decrease.
- Network changes. Doctors, specialists, and hospitals can leave a plan's network. Your primary care physician this year may not be in-network next year.
- Copay and coinsurance changes. What you pay at the doctor's office, hospital, or pharmacy may shift.
- Benefit additions or removals. Extra benefits like dental, vision, hearing, or over-the-counter allowances can change.
Your plan is required to send you an Annual Notice of Change (ANOC) by September 30 each year. This document outlines exactly what is changing for the following year. Read it carefully — it is the single most important piece of mail you receive in the fall.
How to Review Your Coverage Before AEP
The best time to start reviewing your options is late September, once you have your ANOC in hand. Here is a practical approach:
- Read your ANOC. Identify any changes to your premiums, formulary, network, or benefits.
- Update your medication list. Note every prescription you take, including dosage and frequency. Formulary changes affect your out-of-pocket costs more than almost anything else.
- Check your doctors. Confirm that your primary care physician, specialists, and preferred hospital are still in your plan's network for the coming year.
- Review your pharmacy. Make sure your preferred pharmacy is still in the plan's network and that your medications are available at the tier you expect.
- Compare alternatives. Look at other plans available in your county. A licensed advisor can run a side-by-side comparison using your specific medications and providers.
If nothing has changed in your plan and your health needs are the same, staying put may be the right call. But you will not know that unless you check.
Common AEP Mistakes
The most expensive AEP mistake is doing nothing when your plan has changed. Here are other common pitfalls:
- Ignoring the ANOC. Many people throw it away thinking it is junk mail. It is not.
- Choosing a plan based only on premium. A $0 premium plan with high copays and a limited formulary may cost you more overall than a plan with a moderate premium and lower cost-sharing.
- Not checking the formulary. A plan that does not cover your medications — or covers them at a high cost tier — can cost you hundreds or thousands of dollars over the year.
- Assuming your doctor is still in-network. Provider networks change annually. Always verify.
- Waiting until December. Starting your review in early October gives you time to make a careful decision. Waiting until the last week creates pressure and increases the chance of mistakes.
Our resources page has additional tools to help you prepare for AEP each year.
What Happens After AEP Ends
Once December 7 passes, your AEP window closes and your new coverage (or your unchanged existing coverage) takes effect January 1.
If you enrolled in a new Medicare Advantage plan during AEP and realize it is not the right fit, you have one more opportunity: the Medicare Advantage Open Enrollment Period (OEP), which runs from January 1 through March 31. During the OEP, you can switch to a different Medicare Advantage plan or drop Medicare Advantage and return to Original Medicare with a standalone Part D plan. You can only make one change during the OEP.
Outside of these windows, you generally cannot change your coverage unless you qualify for a Special Enrollment Period due to specific life events.
This is why the fall review matters. Taking 30 minutes in October to review your ANOC and compare plans can save you significant money and frustration throughout the following year. If you are unsure where to start, schedule a review with a licensed advisor — we help Medicare beneficiaries in Florida, Texas, Pennsylvania, and Ohio navigate AEP every year.
We do not offer every plan available in your area. Plan availability and benefits depend on your county and eligibility.
Frequently Asked Questions
When exactly is the Annual Election Period?
The AEP runs from October 15 through December 7 each year. Changes made during this window take effect on January 1 of the following year.
Do I have to make a change during AEP?
No. If you are satisfied with your current plan and nothing significant has changed, you can keep your existing coverage. It will automatically renew. However, you should still review your ANOC to confirm nothing has changed that affects you.
Can I change my Medicare Supplement plan during AEP?
No. The Annual Election Period applies to Medicare Advantage and Part D plans. Medicare Supplement (Medigap) policies follow different enrollment rules that vary by state. A licensed advisor can explain the Medigap rules that apply in your state.
What is the difference between AEP and the Medicare Advantage Open Enrollment Period?
AEP (October 15 - December 7) is when you can make most plan changes for the following year. The Medicare Advantage OEP (January 1 - March 31) allows people already enrolled in Medicare Advantage to make one additional change — either switching MA plans or returning to Original Medicare.
What if I miss AEP?
If you miss the December 7 deadline, you will generally need to wait until the next AEP to make changes, unless you qualify for a Special Enrollment Period. This is why it is important to start your review early in October rather than waiting until the last minute.