The Medicare Annual Enrollment Period (AEP), also known as the Medicare Annual Election Period and the Medicare Open Enrollment Period, is a specific fall enrollment period from October 15 through December 7. During this time, beneficiaries can make changes to their current Medicare plan coverage. All plan and benefit changes become effective on January 1 the following year.
During the Medicare Annual Enrollment Period, you can make changes to your Medicare Advantage and Cost plans, and Part D prescription drug plans only. Multiple changes and updates are allowed, including:
• Dropping your Medicare Advantage plan and returning to Original Medicare • Moving from Original Medicare only to a Medicare Advantage plan • Enrolling in a different Medicare Advantage plan
• Choosing a new Medicare Part D prescription drug plan
• Adding a Part D prescription drug plan if you don’t have one
• Canceling your current Part D prescription drug plan
o Note: If you don’t maintain some form of creditable prescription drug coverage and decide to re-enroll in Part D in a later year, you’ll get dinged with a late enrollment penalty
In 2025, Medicare will undergo some of the most significant changes in years. Changes to Medicare will include:
• Elimination of the coverage gap (donut hole)
• A $2,000 limit on out-of-pocket Part D drug costs
• Some Medicare Advantage plans with Part D coverage may raise costs and/or reduce coverage
• An opt-in Prescription Drug Payment plan – you can spread out the cost of medications over a period of months rather than paying everything you owe every time you pick prescriptions up from the pharmacy.
One specific local change is that Tanner Health will be out-of-network with Humana Medicare Advantage PPO beginning January 1, 2025 ( https://www.tanner.org/patients and-visitors/billing-and-financial-resources/insurance-faq/humana-insurance-update).
A Tanner Health release states that they “strongly encourage any Medicare beneficiary currently covered under a Humana Medicare Advantage PPO plan utilizing Tanner Medical Center and its affiliates to contact our office immediately, so we can assist with navigating this tumultuous process.
Additionally, there will be NO change for Humana Medicare Supplements – Tanner Health will still accept Humana Medicare Supplements.
Medicare beneficiaries are encouraged to review their current source of Medicare coverage during the annual open enrollment period and compare other options that are available where they live. Because an individual’s medical needs can change over the
course of the year, and from one year to the next, this may influence their priorities when choosing how they want to get their Medicare benefits. Medicare Advantage and Medicare prescription drug plans typically change from one year to the next and may vary in many ways that could have implications for a person’s access to providers and costs.
Insurance Solutions of the South is always available to help with Medicare and can be reached by calling 678.821.3484.
