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How to Prepare for The Medicare Annual Election Period (AEP)


Senior couple with their agent

The Medicare Annual Election Period (AEP) runs from October 15th to December 7th each year. It is the designated time when you can enroll in, switch, or drop Medicare Advantage (Part C) and Medicare Part D prescription drug plans. Changes made during this period will generally take effect on January 1st of the following year. Preparing for the enrollment period will help you and our agent compare plans and project costs correctly so you are enrolled in the plan that fits your needs.


Review your Annual Notice of Change

The Annual Notice of Change (ANOC) is a notice you receive from your Medicare Advantage or Part D plan in late September. The ANOC gives a summary of any changes in the plan’s costs and coverage that will take effect January 1 of the next year. Review this notice to see if your plan will continue to meet your health care needs in the following year. If you do not receive an ANOC, you should contact your plan.


Update your list of current Providers

Have any of your doctors changed since last year? If so you will want to work with your agent to make sure these providers are in-network for next year.


Update your list of current Prescription Drugs and Pharmacy

Have any of your prescriptions or Pharmacy changed since last year? If so you will want to work with your agent to make sure these are covered on the Formulary for next year. It is recommended to have the prescription drug, the dosage and how often you fill the prescription ready when you meet with your agent. Your agent should enter this information and provide projected costs for the upcoming year.


Has your income changed?

If your income has decreased since last year speak with your agent to see if you qualify for the Medicare Savings Program or Medicaid. These programs can help with the costs of Medicare Part A and B and the costs associated with Part D. You can apply for these programs anytime of the year.


Schedule an appointment with your agent.

If you have reviewed your Annual Notice of Change and want to explore different plans for 2024, contact your agent for a plan review. New plans come to the market each year. Even if you are o.k. with your current plans changes it does not hurt to have a plan comparison check to make sure you are in the lowest cost plan for next year.


You can schedule an appointment with a Licensed Perfiniti Agent by clicking https://www.perfinitiinsurance.com/team click on the agent you want to work with and click schedule a meeting.

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