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2023 Medicare Annual Election Period (AEP)

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By Daniel Petkevich
Sep 21, 2023

Answering your questions for 2023 AEP

If there is one constant in life, it's change. And if your medical needs or living circumstances change, so should your healthcare coverage. Luckily, Medicare helps you adapt by switching health plans yearly during the fall.

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The Annual Election Period

The Annual Election Period (AEP), or the Fall Open Enrollment, occurs from October 15th to December 7th each year. During this period, you can:
  • Switch from Original Medicare to Medicare Advantage Plan.
  • Return to Original Medicare from a Medicare Advantage Plan.
  • Switch from one Medicare Advantage Plan to another (with or without drug plans).
  • Join a Medicare drug plan (Part D).
  • Switch from one Medicare drug plan to another.
  • Disenroll from Medicare drug coverage.
Note: Changes made during the AEP come into effect on January 1st.

Plan Updates

Each fall on October 1st, Medicare approves changes to existing Medicare Advantage and Prescription Drug Plans. There can be significant impacts on your plan's costs, coverage, and networks. Reviewing changes with a trusted advisor is essential to ensure your plan is still a good fit for 2024.

Takeaway

You may want to change or drop your Medicare Advantage or Prescription Drug Plan if:
  • You're unhappy with your current plan
  • Your doctor moves out of network
  • You move to a new place
  • Your medical situation changes
  • Your medication costs are too high

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Virgil Insurance Agency, LLC (DBA Fair Square Medicare) and www.fairsquaremedicare.com are privately owned and operated by Help Button Inc. Medicare supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program. This is a solicitation of insurance. A licensed agent/producer may contact you. Medicare Supplement insurance is available to those age 65 and older enrolled in Medicare Parts A and B and, in some states, to those under age 65 eligible for Medicare due to disability or End-Stage Renal disease. Virgil Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, HMO SNP, PPO, PPO SNP and PFFS organizations and stand-alone PDP prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, or sex. Plan availability varies by region and state. For a complete list of available plans please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov. © 2024 Help Button Inc

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