What is the Medicare Annual Election Period (AEP) and when does it occur?

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Study for the Wellcare ACT Mastery – Broker and Employee Exam. Prepare with our comprehensive materials including flashcards and multiple choice questions, with detailed hints and explanations. Achieve excellent results in your exam!

Multiple Choice

What is the Medicare Annual Election Period (AEP) and when does it occur?

Explanation:
The Annual Election Period is the yearly window when you can review and adjust Medicare Advantage and Part D prescription drug coverage for the next year. During this time you can enroll in, switch between, or drop a Medicare Advantage plan and you can add, drop, or switch Part D drug coverage. Changes made during this period take effect on January 1 of the following year. The AEP runs from mid-October through early December each year (specifically October 15 to December 7). Outside of this window, these changes aren’t part of the AEP, though other elections periods may apply for different scenarios.

The Annual Election Period is the yearly window when you can review and adjust Medicare Advantage and Part D prescription drug coverage for the next year. During this time you can enroll in, switch between, or drop a Medicare Advantage plan and you can add, drop, or switch Part D drug coverage. Changes made during this period take effect on January 1 of the following year. The AEP runs from mid-October through early December each year (specifically October 15 to December 7). Outside of this window, these changes aren’t part of the AEP, though other elections periods may apply for different scenarios.

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