With the Annual Enrollment Period (AEP) coming to an end agents might believe its 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 are able to switch from their current MA plan to another if there is discomfort with the plan they enrolled in. They are also able to disenroll from an MA plan returning to original Medicare with or without a Part D plan. They are allowed to switch from a MA-PD plan to a 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 sells 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 situations.
Why Considering OEP is Important?
It is important to always consider the OEP because it’s apart of being a good agent. You are committed to helping your client and part of that involves making sure they are happy. If you can succeed in supporting your clients through their discomforts loyalty will develop.