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[Term] Annual Election Period (Medicare Advanta [Definition] 
The Annual Election Period (AEP) for Medicare beneficiaries runs from November 15 through December 31 each year. During this time beneficiaries may change prescription drug plans, change Medicare Advantage plans, return to original Medicare, or enroll in a Medicare Advantage plan for the first time. Enrollment changes take effect on January 1. This is the only period during which most people with Medicare can change prescription drug plans.
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