Open Enrollment Period (OEP)-This time frame runs from January 1-March 31rst each year but is specific to Medicare Advantage ONLY. If someone is enrolled in a Medicare Advantage Plan, they have a couple of options. This was added back in 2019 and replaced the Medicare Advantage Disenrollment period which used to run from January 1st – February 14th.

1. Switch to a different Medicare Advantage Plan
2. Switch to Original Medicare (and join a stand-alone drug plan)

They can only use this election period ONCE during the time frame so when making a change make sure it is the right one. The change will take effect the first of the month following the request.

What’s the difference between the Annual Enrollment Period (AEP) and the Open Enrollment Period (OEP)?

Besides sounding alike AEP occurs in the fall October 15th – December 7th, with the coverage effective date beginning January 1st. AEP is open to anyone eligible for Medicare, and the last application is the one that applies. Applicants can change their minds many times with the last application before December 7th being the one to take effect.

Remember OEP is only available to those ALREADY in a Medicare Advantage plan as of January 1rst, and only allows a ONE TIME CHANGE there is no last application in the policy. Applicants Can NOT switch from Original Medicare to an Advantage plan because remember they must already be on an Advantage plan. They can NOT join a standalone drug plan if only enrolled in original Medicare since again they are NOT on an advantage plan already. Getting the gist now?

 How can I market during OEP?

This time frame is a little more restrictive, hard to believe anything can be more restrictive right!?

This is a time frame where beneficiaries who are unhappy with the plan, they chose during AEP get a one-time oops let me make another choice. Remember it is not a free market.

Agents Can:

Provide OEP information upon a beneficiary request. Market to those turning 65 and LIS beneficiaries, focusing on other enrollment periods essentially. Follow up with your book of business to check in and make sure they are happy with no issues.

Agents Can NOT:

Target Medicare Advantage Enrollees knowingly, don’t run an ad like this, “Hate your plan call me.”

Contact any enrollees who chose a new plan during AEP (that would be targeting as mentioned above)

My best advice would be to use the OEP as a time to help any client that may realize they picked the wrong plan or made a mistake but continue focusing on those Turning 65 and the LIS beneficiaries. The OEP is a nice to have election period when needed but is meant to be just that WHEN needed.

This is quite a bit to review and understand so why not reach out to us to help you?

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