The Medicare Annual Enrollment Period (AEP) is a set time each year for changing your Medicare coverage choices if you choose to. It runs from October 15 to December 7, and new coverage choices go into effect on January 1. During the AEP, you can enroll in, switch, or drop Medicare Advantage (also known as Medicare Part C) and Medicare prescription drug plans. The specific actions you can take during AEP depend on your current coverage. For example, if you currently have just Original Medicare (Parts A & B), you can join a Medicare Advantage plan (Part C) with or without built-in drug coverage, join a stand-alone Medicare prescription drug plan (Part D), or make no changes and your current coverage will renew as is. If you’re enrolled in Original Medicare (Part A and Part B) or a Medicare Advantage plan that doesn’t include prescription drug coverage, AEP provides an opportunity to enroll in or change your stand-alone Medicare Part D prescription drug plan.

Its important to note that AEP is different from the Open Enrollment Period (OEP), which is a time when anyone eligible for Medicare can enroll in, change, or unenroll from a Medicare Advantage Plan or a Prescription Drug Plan. OEP typically occurs each year from January 1st to March 31st, while AEP occurs from October 15th to December 7th. During AEP, those enrolled in Medicare Advantage Plans can change their coverage, enroll in a different Medicare Advantage Plan, switch to the original Medicare, or enroll in a Prescription Drug Plan.

In summary, the Medicare Annual Enrollment Period (AEP) is a designated timeframe during which individuals can make changes to their Medicare coverage. Eligible individuals, including those enrolled in Original Medicare (Part A and Part B), Medicare Advantage (Part C), and Medicare prescription drug plans (Part D), can take advantage of the AEP to switch, enroll in or disenroll from different Medicare plans.