Webinar | OEP Lead Opportunities
OEP Lead Opportunities
Now that AEP is over, 2025 OEP is right around the corner! With all of the uncertainty surrounding IRA, it’s important to also have lead opportunities you can use that are cost-effective and have quick turnaround times. In this webinar, we will discuss the following options:
– Digital/Social Media Leads
– Direct Mail
– Preset Appointments
– Important Rules and Regulations
Wellpoint | OEP – Opportunities & Guidelines for Brokers
Wellpoint | OEP – Opportunities & Guidelines for Brokers
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Supporting Clients and Prospects
During OEP January 1 – March 31, 2024
Medicare’s Open Enrollment Period (OEP) provides Medicare Advantage beneficiaries a one-time opportunity to make a change to their 2024 plan. During this time, you will have opportunities as well; to support prospects that are seeking help to make a change, and to strengthen your role as a trusted Medicare advisor.
Know the rules
You can help beneficiaries, who reach out to you, find a plan that is better for them. Read our OEP Fact Sheet to ensure you know what you can and can’t do to grow your business during OEP.
Retention opportunity
Be proactive! Take time to check in with your clients to ensure they understand their benefits and have what they need to begin using them. Doing so will help strengthen your rapport and may impact plan retention.
For more information, contact a Pinnacle Financial Services representative today
1 (800) 772-6881 x7731 | sales@pfsinsurance.com
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Contact a Pinnacle Representative if you have any questions.
1 (800) 772-6881
support@pfsinsurance.com
Medicare OEP
Medicare OEP
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Medicare’s Open Enrollment Period (OEP) is a time for individuals to review and adjust their Medicare coverage. Understanding the intricacies of Medicare OEP is essential for making informed decisions about healthcare plans. Below, we discuss the rules and opportunities with the Medicare OEP, which has replaced the previous Medicare Disenrollment Period.
Introduction to Medicare Open Enrollment Period (OEP)
The Medicare Open Enrollment Period, occurring annually from January 1st to March 31st, is pivotal for beneficiaries. It’s designed to offer flexibility and a chance to reassess one’s current Medicare coverage. This period is particularly significant as it replaces the former Medicare Disenrollment Period, which was limited to January 1st to February 14th each year.
Key Changes in OEP
One of the most notable changes in the OEP is its extended duration. Now, running for three months provides ample time for clients to consider their options without feeling rushed. During this period, beneficiaries have a one-time opportunity to change their existing plans. This flexibility is crucial for adapting to new healthcare needs or financial considerations that may have arisen since the initial enrollment.
Understanding “Like Plan” Changes
The OEP allows for changes to a “like plan.” Understanding what this means is crucial for making the right decision. The term “like plan” refers to a specific set of allowable changes. These include:
- MAPD to MAPD: Beneficiaries can switch from one Medicare Advantage Prescription Drug plan (MAPD) to another. This option is ideal for those who wish to find a plan with different coverage details, network providers, or drug formularies.
- MAPD to Original Medicare (and a Part D plan): For those who wish to return to Original Medicare, this option allows beneficiaries to switch from their MAPD plan. Additionally, they can enroll in a Part D plan for prescription drug coverage, ensuring they don’t lose prescription benefits.
- MA Only plan to an MA Only plan: This change enables beneficiaries to switch from one Medicare Advantage (MA) plan to another. It’s an essential option for those satisfied with having their health and medical services under Medicare Advantage but seeking different coverage specifics.
- MA Only plan to Original Medicare: This choice is for beneficiaries who prefer the flexibility and broad network of providers that Original Medicare offers, allowing them to move away from a Medicare Advantage plan.
Importance of Personalized Advice
While the OEP provides an opportunity to make changes, switching should be based on individual healthcare needs. It is advisable to consult with a healthcare advisor or use Medicare’s resources to understand the implications of each option. Personalized advice can help beneficiaries navigate the complexities of Medicare and make choices that align with their healthcare needs.
| During the OEP, you may not: | During the OEP, you may: |
|---|---|
| Send unsolicited materials advertising the ability/opportunity to make an additional enrollment change or referencing the OEP | Market to age-ins (who have not yet made an enrollment decision) |
| Specifically, target beneficiaries who are in the OEP because they chose AEP by purchasing mailing lists or other means of identification | Market to dual-eligible and low-income subsidy (LIS) beneficiaries who, in general, may make changes once per calendar quarter during the first nine months of the year |
| Engage in or promote agent/broker activities that intend to target the OEP as an opportunity to make further sales | At a beneficiary’s proactive request, send marketing materials have one-on-one meetings, and provide information on the OEP |
| Call or otherwise contact former enrollees who have selected a new plan during the AEP | Include general information on your website about enrollment periods, including OEP. |
Medicare’s Open Enrollment Period allows beneficiaries to reassess and adjust their healthcare plans. By understanding the rules and options available, such as the ability to switch to a “like plan,” beneficiaries can make decisions that better suit their evolving healthcare needs. It’s a time for careful consideration and consultation with Medicare experts to ensure the choices are in the best interest of one’s health and well-being. However, navigating the complexities of Medicare can be challenging.
For personalized guidance and more detailed information on how OEP works, it’s advisable to contact a knowledgeable Medicare team member. Pinnacle Financial Services provides expert assistance and can be a valuable resource in this process. You can contact us at 800-772-6881 x-7731 or email support@pfsinsurance.com for support. For more comprehensive insights and updates, visit our OEP page. The team can help you understand the nuances of Medicare plans and ensure that your choices are in the best interest of your client’s health.
For more information, contact a Pinnacle Financial Services representative today
1 (800) 772-6881 x7731 | sales@pfsinsurance.com
Vice President, Marketing
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Contact a Pinnacle Representative if you have any questions.
1 (800) 772-6881
support@pfsinsurance.com
All About Medicare OEP
All About Medicare OEP
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A lot of acronyms in this industry, ya you know it.
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.
- Switch to a different Medicare Advantage Plan
- 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?
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?
Work with one of the best Medicare FMOs in the business! Click here to get started
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For more information, contact a Pinnacle Financial Services representative today
1 (800) 772-6881 x7731 | sales@pfsinsurance.com
Regional Vice President
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Contact a Pinnacle Representative if you have any questions.
1 (800) 772-6881
support@pfsinsurance.com