What is the annual Medicare enrollment (AEP) period?

The Annual Enrollment Period (AEP) applies only to Medicare Advantage and Part-D prescription drug plans. It does not apply to Original Medicare or Medicare Supplement plans. It is the one time a year that Medicare Advantage members can enroll, disenroll, or change plans. Beginning on October 1^st, each year, insurance companies release information about their plans for the coming year. They may add new plans, eliminate old plans, make changes to benefits, modify their physician and hospital networks, or member premiums. AEP begins on October 15^th and runs through December 7^th. All new enrollments, disenrollments, or plan changes made during AEP are effective January 1^st of the following year.