As summer ends, it’s time to review your health insurance. The Medicare Annual Election Period (AEP) and Health Insurance Open Enrollment Period (OEP) are crucial for selecting, updating, or changing your coverage to fit your needs. The agents at John Douglas Insurance are here to make the process easy and stress-free.

The AEP is a critical time for Medicare beneficiaries to review and change their coverage. Running from October 15 to December 7, AEP allows individuals to switch between Original Medicare and Medicare Advantage plans, change between Medicare Advantage plans, or adjust Part D prescription drug coverage. This period ensures your health coverage aligns with your medical needs and budget for the coming year. Changes made during AEP take effect on January 1. Missing this window may leave you locked into your current plan until the next enrollment period.

The OEP is a designated timeframe when individuals can sign up for or make changes to their health insurance plans. For most plans under the Affordable Care Act (ACA), OEP runs from November 1 to December 15. During this period, you can enroll in a new plan, switch plans, or modify your existing coverage. Outside of OEP, you can only make changes under special circumstances, such as marriage, birth of a child, or loss of other coverage. Enrolling during OEP guarantees continuous access to healthcare services and prevents gaps in coverage.

Navigating OEP and AEP can be daunting, but the licensed agents at John Douglas Insurance are ready to assist you in evaluating your options and securing the best coverage to meet your needs. Ensure you have the right plan to protect your health and well-being for the coming year.