Medicare’s Annual Enrollment Period (AEP) is well known to retirees. Constant television commercials, phone calls, and mailers clutter the lives of millions of Medicare beneficiaries from October through December. But there is a different enrollment period fewer people are aware of.
It’s called the Open Enrollment Period (OEP). OEP takes place from January 1st through March 31st and gives Medicare Beneficiaries the opportunity to make a one-time change from the MA plan they selected during AEP the previous year. The new coverage takes effect on the 1st of the following month.
There are instances when beneficiaries sign up for a plan that doesn’t align with their needs and budget, so OEP was created to give people a second chance at selecting the right coverage for them. Here is a breakdown of the changes someone can make during OEP:
If you would like to review your coverage options, give us a call at 1-800-627-2768.