Annual Enrollment Period

The Annual Enrollment Period (AEP) runs from October 15 through December 7 each year. This is the most important time for Medicare beneficiaries in New Mexico to review their current coverage and make changes for the upcoming year. Changes made during AEP take effect on January 1.

What You Can Do During AEP

• Switch from Original Medicare to a Medicare Advantage plan
• Switch from a Medicare Advantage plan back to Original Medicare
• Switch from one Medicare Advantage plan to another
• Join a Medicare Part D prescription drug plan
• Switch from one Part D plan to another
• Drop your Part D plan (caution: you may face a penalty later)

Why You Should Review Your Coverage Every Year

Medicare plans change their premiums, benefits, formularies (drug lists), provider networks, and pharmacy networks annually. A plan that was the best fit last year may not be the best option for 2027. In New Mexico, where plan availability varies by county, it is especially important to compare your options each fall.

AEP Checklist for New Mexico Beneficiaries

• Review your Annual Notice of Change (ANOC) letter from your current plan
• Make a list of your current doctors, specialists, and pharmacies
• List all your current medications with dosages
• Compare plans at PlanMatchMedicare.com using your specific medications and providers
• Check if your preferred doctors are still in-network for your plan
• Consider whether your health needs have changed
• Make your plan change by December 7. If your Medicare Advantage plan is ending in 2027, you have a Special Enrollment Period through February 28, 2027; choose a new plan by December 31 to avoid a gap in coverage (plans ending in 2027).