Medicare Advantage and Medicare Part D plans automatically renew each year unless the plan becomes ineligible for renewal, states Medicare.com. In such a case, the consumer must choose a new plan for the upcoming year. Medicare Parts A and B never need to be renewed.
If a Medicare Advantage or Part D plan is not going to be available in the upcoming year, Medicare sends a notice to the consumer informing him of this by October of the current year, states Medicare.com. An annual election period runs from October 15 to December 7 during which consumers can choose a new plan, whether due to the current plan being cancelled or a better plan becoming available.