What is the Annual Election Period (AEP)?
The Annual Election Period for coverage effective in 2008 begins November 15, 2007 and ends December 31st, 2007. Anyone who already enrolled in a Medicare Part D plan may change plans during this period each year without penalty. Eligible individuals (people on Medicare) who chose not to enroll during their initial Open-Enrollment Period may enroll in Medicare Part D between November 15 and December 31 each year, but penalties will apply unless the individual had “creditable” prescription drug coverage. Enrollments during this period have an effective date of January 01, 2008. Remember, no matter what your income, you are eligible. Medicare prescription drug coverage is insurance that covers both brand-name and generic prescription drugs at participating pharmacies in your area. A typical person with Medicare and no drug coverage could see total drug costs drop by about 50%. You MUST join Part D for coverage to begin. The sooner you join, the sooner your coverage will begin…and the soo
