Medicare Open Enrollment Period vs. Annual Enrollment Period

January 27, 2025|Blog|

Stethoscope and chalkboard with text OPEN ENROLLMENT on wooden table.

Switch Plans During Medicare’s Open Enrollment Period

It’s proactive to review your Medicare health insurance plan annually to stay current on health insurance changes and ensure you have adequate health insurance coverage. During special enrollment periods, members can take advantage of new benefits: Don’t miss the opportunity to make the most of your Medicare Advantage health options.

Medicare is a federal health insurance program for people aged 65 or older and some younger people with specific disabilities. Two important enrollment cycles are Open Enrollment Period (OEP) and Annual Enrollment Period (AEP).

What’s the Medicare Advantage Open Enrollment Period?

OEP runs January 1-March 31, and may be the best time to disenroll from a present plan and switch to another Medicare Advantage plan – or you may also return to Original Medicare. OEP applies to people who already have coverage under a Medicare Advantage plan. Understand your coverage choices and compare healthcare plans carefully. Keep in mind: Enrollees can make one plan change during this annual window.

Benefit changes become effective on the first of the following month.

What’s the Medicare Advantage Annual Enrollment Period?

AEP runs October 15-December 7 when members are allowed to change or drop coverage. Throughout AEP, you’re not limited by the number of times you can switch plans. In fact, if you make a choice but find a better plan, you can adjust your selections as many times as you need.

During AEP, you can make a range of changes to your Medicare coverage, including:

Disenroll from one medicare Advantage plan and choose another.
Enroll in or switch Medicare Part D prescription drug plans.
Drop a Medicare Advantage plan and return to Original Medicare.

Special Enrollment Periods for Getting Medicare Advantage

You can make changes to your Prominence Medicare Advantage plan and Medicare prescription drug coverage when certain events happen in your life, like if you move or lose other insurance coverage.

Rules about Special Enrollment Periods include when to make changes to your Medicare Advantage plan. The guidelines are different for each enrollment period and circumstances. Examples are:

You’re eligible for both Medicare and Medicaid
You qualify for extra help paying for Medicare prescription coverage
You relocate to another state
You lose your current coverage
You have a chance to get additional coverage
Your insurance plan changes its contract with Medicare

It’s so important to make well-researched Medicare decisions, find providers and submit timely paperwork to ensure your coverage is in place.

Contact us

Questions about Medicare, benefits, eligibility, prescription drugs or enrolling in Prominence Medicare Advantage? Please call 866-747-8855 or complete the online interest form.