With the Annual Enrollment Period (AEP) coming to an end, agents might believe it’s time to relax and enjoy the end of the decade. The truth is their job isn’t done, and the next insurance season is closing in faster than expected. The season I’m speaking of is the Medicare Advantage Open Enrollment Period (OEP), also known as the Medicare Advantage Disenrollment Period (MADP). The Medicare Advantage open enrollment period runs from January 1 to March 31 and allows Medicare Advantage enrollees to either switch to Original Medicare (plus a Part D plan if they want one) or switch to a different Medicare Advantage plan.
What You Can Do In The OEP
The OEP allows those who are currently enrolled in a Medicare Advantage (MA) plan to make a change ONE time from their current plan. Beneficiaries can switch from their current MA plan to another if there is discomfort with the plan they enrolled in. They can disenroll from an MA plan and return to Original Medicare with or without a Part D plan. They are allowed to switch from an MA-PD plan to an MA only. Or even from one MA-PD to another MA-PD.
What You Cannot Do
However, your client cannot change from one part D to another. They are also not allowed to switch from an Original Medicare plan to an MA plan. The OEP does not work with those who have a Medicare Savings Account or Medicare cost plan.
When The OEP Should Be Considered?
Agents, you cannot use the OEP as an opportunity for additional sales using this time to contact enrollees. This time should be used as a way to check in on your clients and see how they are enjoying their plans. If discomfort or frustration with their plan or needs that the plan cannot meet is found, discuss these options with your client. You don’t want them to be stuck in a plan for a whole year that cannot help their situation.
Why Considering OEP is Important?
It is important to always consider the OEP because it’s a part of being a good agent. When you commit to helping your client, you will ensure they are happy with their coverage. If you can succeed in supporting your clients through their discomforts, loyalty will develop.
Agents
We hope that this information on OEP is useful to you.
Empower Brokerage is dedicated to helping you make informed decisions about your health and finances. Whether it’s through webinar training, one-on-one calls, seminars, or marketing plans, we want you to be successful!
Give us a call at 888-539-1633 or leave a comment below if you have any questions.
Quick links:
