What is the Medicare OEP? This is another Open Enrollment Period from January 1 through March 31st for Medicare beneficiaries. The OEP allows beneficiaries who are enrolled in a Medicare Advantage Plan to make a one-time change.
Beneficiaries can use the Medicare Open Enrollment Period to:
Switch from one Medicare Advantage plan to another Medicare Advantage plan.
Dis-enroll from a Medicare Advantage plan and return to Original Medicare, with or without a Part D drug plan.
The Medicare OEP does not, however, allow a beneficiary to change from one Part D plan to another.
What is the Medicare OEP? An option for a do-over if you aren’t happy with your current Medicare Advantage plan. You found out your doctor is not in network after all or you don’t love the benefits like you thought you would? Click here to watch a great video where Rick explains the Medicare OEP more in depth. Recently, we had someone come in who was moved to a different Medicare plan by an agent who did not understand this Open Enrollment period. They moved him from a Medicare Supplement plan to a Medicare Advantage Plan, but failed to mention that this is NOT allowed during this time frame. It made for a horrible mess for our now client. What a frustrating situation to be in! Medicare is already confusing enough. The agent that did this also put him on a Medicare plan that isn’t available in his county.
Be careful that you know who is signing you up for your Medicare and do they know your situation? Are they educated in Medicare rules and even which plans work in your county. Watch to see this story. Also check out of great library of educational videos here or give us a call to make some changes during this OEP.