OEP stands for the Open Enrollment Period for Medicare Advantage plan members. OEP allows those who are enrolled in a Medicare Advantage Plan, if necessary, to make one change to a different plan of their choice. This window of opportunity runs from January 1st- March 31st. Any change made will be effective the first of the following month.
What types of changes can be made during OEP?
An individual can only make a change during this period if they are currently enrolled in a Medicare Advantage Plan. If so, that individual is able to switch from one Advantage Plan to another Advantage Plan or move from their Advantage Plan back to Original Medicare and also add on a Stand Alone Prescription Drug Plan.
OEP is not allowed to be marketed by independent agents or call centers. Even social media and traditional mail are off limits, yet many of you receive marketing pieces or see ads on the internet every day. But the worst are the phone calls. Many of our clients have been duped into switching their Medicare Insurance Plan without even realizing what was happening. Many of our clients have been switched during OEP. So here are a few tips to help make certain you don’t fall prey to a to an unwanted telemarketing scheme.
1. It is illegal for an agent to make unsolicited contact with a potential customer to talk about Medicare Advantage or Prescription Drug coverage. (If you didn’t request the call, marketing agents shouldn’t be reaching out)
2. If you do answer a telemarketing call, never give out your Medicare number! Telemarketing agents can use your Medicare number to enroll you in a new plan without your approval.
3. If you are ever unhappy with your current Medicare Insurance Plan, or have a question about another plan options, our team is licensed in almost every state, with hundreds of Medicare Insurance Plan options available. We are always here to ensure you are on a plan that meets your needs.
4. Don’t hesitate to call the Team at Yost Insurance. Remember, our services come at no cost to you. We would be happy to review your situation, and if need be, help you choose a new Medicare Insurance Plan.
Learn more about enrollment period options at the most-trusted source for all things Medicare, www.medicare.gov.