Can I Enroll in Medicare Part D During the Annual Enrollment Period?

Carolina Insurance partners is your local medicare insurance broker

Can I Enroll in Medicare Part D During the Annual Enrollment Period?

Medicare Part D can be a great addition to your Original Medicare plan as it provides prescription drug coverage, which is not a benefit included with Original Medicare. While not all Part D plans are the same, they all ultimately have the same goal, which is to lower the costs of prescription drugs so it’s more affordable for Medicare members.

Enrolling in Part D is typically recommended as soon as you become eligible to enroll, but there are other enrollment periods that you should take note of.

How Does the Part D Coverage Plan Work?

Part D plans are offered by private insurance carriers. Beneficiaries will pay a monthly premium to maintain the plan. In return, the insurance carrier will pay a part of the beneficiary’s medication costs.

Can I Enroll in Medicare Part D During the Annual Enrollment Period?

If you missed the chance to enroll in Part D during the seven months of the Initial Enrollment Period (IEP) or the Special Enrollment Period (SEP) window, there is another chance for you: the Annual Enrollment Period (AEP).

The AEP runs from October 15 to December 7. If you are already a beneficiary of a Medicare plan, you can make a switch or transfer to the Medicare Part D plan of your choice. For example, if you are enrolled in Original Medicare, you can choose to add on a Part D plan. If you’re enrolled in Medicare Advantage, you can switch to a Medicare Advantage plan that includes prescription drug coverage.

Now, if you’re already enrolled in a Part D plan, you will also have the opportunity of switching to a different Part D plan or dropping Part D entirely.

Regardless of the changes you choose to make, your new coverage won’t take effect until January 1 of the upcoming year.

Give Us a Call Today

At Carolina Insurance Partners, we understand how important it is that you get the coverage you need and deserve. That’s why if you need help with getting Part D coverage during the Annual Enrollment Period, we’re here to help. Just give us a call today and we will be happy to take a look at your options for you!

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