Must-Know Facts About the Medicare AEP

Must-Know Facts About the Medicare AEP

Having a Medicare plan is your assurance that you will be covered in times when you need medical assistance. It offers peace of mind and financial security not only for you, but for your family as well.

To enroll in a Medicare plan, you must first meet the requirements on or before the Annual Enrollment Period. Before joining, you must first understand a few things about the Annual Enrollment Period or AEP. Here are the must-know facts that you should pay attention to:

  • Plan Switching
    Aside from joining a Medicare plan for its insurance services in North Carolina, you also have the opportunity to drop your existing policy or switch to another during the AEP. Precisely, you can do these things during the said period:
    • Joining or dropping a Part D prescription drug plan when signing up for Part A or B
    • Dropping a Medicare Advantage plan and switching back to the Original Medicare plan
    • Upgrading to a Medicare Advantage plan when you only have an Original Medicare plan
  • Plan Change Deadline
    Before, you can only drop your Medicare Advantage plan and go back to the Original Medicare plan during the Medicare Advantage Disenrollment Period. This period covers from January 1 to February 14 of each year. The Medicare Annual Open Enrollment Period has replaced this. Moreover, the period has been extended. It now covers the period from January 1 to March 31 of every year.

Exemplar Insurance Associates, Inc. and all of our exemplar insurance associates in High Point, North Carolina hopes to let you understand more about Medicare. This way, you can get the most out of its coverage. Give us a call if you have questions regarding Medicare and its related services.

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