The annual election period for Medicare (AEP) began on Saturday, Oct. 15 and will continue until Wednesday, Dec. 7. This is a time where people can make changes to their Medicare plan depending on what type of coverage they have now and these changes will go into effect on Jan. 1. Every year, Medicare also changes their plan and benefits so it’s a good time for people to look at their new plan and see if they need to make changes.

One of the changes that has happened during AEP is that nearly 50% of Medicare beneficiaries are now enrolled in a Medicare Advantage plan. Jae Oh, author of Maximize Your Medicare, says that this is because people realize that Medicare Advantage is more convenient for them. “In most instances, it combines both your health benefits along with prescription drug benefits and fits many people at the price point where the premium can be $0,” he said. “Basically, this has turned out to be a large savings to those people, especially those who do not use healthcare services very frequently or are not a very heavy user of prescription medications.”

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