If you need to make a change to your Medicare plan, there are different periods during the year when you can enroll in a new Medicare plan. These are divided into Enrollment Periods and Special Election Periods (SEP). We explain them below:
Medicare Enrollment Periods
Learn what to do if you are traveling or moving
- ✓Did you move to another state?
- ✓Does your Medicare plan no longer apply to your new location?
- ✓Did you stop working or lose your job?
- ✓Did you just return to the United States after being out of the country for a long time?
- ✓Do you need extra help with your medications?
Annual Election Period (AEP): October 15 to December 7
Medicare is a health insurance program for people age 65 and older, as well as some younger people with disabilities. It is a federal program, but it is administered by private insurance companies.
Open Enrollment Period (OEP): January 1 to March 31
The new plan you choose will begin on the first day of the next month. If you send a new plan change in January, your new plan will begin on February 1. Keep in mind that if you make this change, you will not be able to use the OEP to change plans again until next year.
Any Medicare plan member can make the following changes during this period:
- ✓Change to a new Medicare plan for extra prescription payment help and more benefits.
- ✓Leave your Medicare plan because it does not feel right for you.
- ✓Enroll in a Medigap plan and/or switch to Original Medicare.
Special Election Periods
Most common SEPs
Moving out of the plan service area
One requirement to be eligible for a Medicare plan is to live within the plan service area. If you move nearby and remain in your plan's service area, you do not need to do anything. However, if you have a Medicare plan and move to another state, you may leave your current plan's service area. This gives you an SEP that allows you to enroll in a Medicare plan with coverage in your new location without waiting for one of the main enrollment periods.
Low-Income Subsidy (LIS), also known as Extra Help
If your income and resources are below a certain limit, you may qualify for the low-income subsidy program. This helps cover premiums and copays for your Part D prescription drug plan. Another benefit of being eligible is that you also receive an SEP to make changes to your Medicare plan outside the main enrollment periods.