What is Medicare Open Enrollment Period (OEP)?
Medicare Open Enrollment Period is a specific enrollment period that runs from January 1 to March 31, each year. During this open enrollment period, Medicare beneficiaries who are already enrolled in a Medicare Advantage Plan (Part C) have the option to make certain changes.
The Medicare OEP is not the same as the Medicare AEP; nor is it the same as the Medigap OEP.
What is the difference in Medicare Annual Enrollment Period (AEP) and Medicare Open Enrollment Period?
Medicare AEP in an annual event running from October 15 to December. During AEP, a Medicare beneficiary may enroll in a new Medicare Advantage or Prescription Drug Plan, as well as make changes to their existing Medicare Advantage plan or Prescription Drug Plan. Medicare OEP is a one-time chance for certain beneficiaries to make a plan change.
What Changes Can I Make During Medicare Open Enrollment Period?
Changes that can be made are very specific. First and foremost, you must already be enrolled in a Medicare Advantage Plan (Part C), with or without prescription drug coverage.
- Switch to another Medicare Advantage Plan (with or without drug coverage).
- Disenroll from your Medicare Advantage Plan and return to Original Medicare (Part A and Part B). If you do this, you may pick up a stand-alone Prescription Drug Plan to accompany your Original Medicare.
Are There Any Changes I Cannot Make During Medicare OEP?
- You cannot switch from Original Medicare to a Medicare Advantage Plan.
- You cannot change from a stand-alone Medicare Prescription Drug Plan (Part D) to another stand-alone Medicare Prescription Drug Plan.
- Additionally, you cannot enroll in a Medicare Prescription Drug Plan (Part D) if you are already in Original Medicare and simply missed another enrollment period to pick up Part D.
Why Would Someone Need To Make A Plan Change after AEP?
Beneficiaries are often inundated with unsolicited sales calls, junk mail, and tv commercials during AEP. It is not uncommon for a beneficiary to be “sold” something that is not in his or her best interest.
For example, someone can be enrolled in a plan that does not cover all their medications, perhaps their doctor does not accept the plan, or it may be that the benefits are not what was presented to them. For this reason, a beneficiary is given one chance to enroll in a plan that better fits their needs.
As any changes you make during the Medicare OEP are, generally, in effect for the rest of the plan year, make certain you understand any changes you are considering.
Why Am I Unable To Change My Medicare Supplement During the MA OEP?
If you have a Medicare Supplement Insurance plan and wish to make changes, it is important to be aware that Medigap plans are subject to different rules. There is a specific Medicare Supplement (Medigap) Open Enrollment Period. This is the best time to enroll in a Medicare Supplement plan. This OEP, usually but not always, starts when you’re 65 or older and enrolled in Medicare Part B, and it lasts for six months. Generally, you can apply for or switch Medigap plans at any time during the year, but once you are outside your Medigap open enrollment window, you will need to submit an application and go through underwriting. Your acceptance is not guaranteed.