What election period allows consumers to join or switch Medicare Advantage Plans from October 15 to December 7?

The Annual Election Period (AEP), also known as the Open Enrollment Period for Medicare, occurs from October 15 to December 7 each year. During this timeframe, beneficiaries have the opportunity to enroll in a Medicare Advantage Plan or make changes to their existing plans. This includes switching from Original Medicare to a Medicare Advantage Plan, changing from one Medicare Advantage Plan to another, or dropping a Medicare Advantage Plan altogether.

The AEP is significant because it allows beneficiaries to evaluate their healthcare needs and choose a plan that best fits their preferences and circumstances for the upcoming year. This period specifically caters to ensuring that beneficiaries have adequate time to review their coverage options, particularly since plan benefits and premiums can change annually.

The other options refer to different enrollment periods with distinct purposes and rules. The Special Election Period (SEP) is for qualifying individuals to make changes outside the standard enrollment periods due to specific circumstances, while the Initial Coverage Election Period (ICEP) is only for individuals who are newly eligible for Medicare. The Open Enrollment Period has a different focus, often applying to beneficiaries who want to make certain adjustments to their existing plans outside the AEP.