Throughout the year, Medicare has different enrollment periods. The Medicare Advantage Open Enrollment Period, or OEP, is the timeframe during which Medicare Advantage beneficiaries can make a one-time change.
If you are already enrolled in a Medicare Advantage Plan, your OEP runs from January 1 - March 31.
If you are new to Medicare and enrolled in a Medicare Advantage Plan, your OEP runs from the first of the month that you are entitled to both Part A and Part B, until the last day of the third month you are entitled.
Any change you make during this time period will take effect the first day of the month after the plan receives your enrollment request.
During OEP, you can make a one-time switch to another Medicare Advantage Plan, or drop your Medicare Advantage Plan to go back to Original Medicare and add a Prescription Drug Plan, if desired.
It gives Medicare Advantage members the opportunity to make a change if needed. It is especially helpful if you enrolled in a plan without checking to see if your doctors and/or medications are covered. Once the Medicare Open Enrollment Period closes, you are generally not allowed to change plans unless you qualify for a Special Election Period. If you need to make a change outside of Open Enrollment, please call to see if you qualify for any of Medicare’s Special Election Period (SEP) options.
Absolutely not! If the Medicare coverage you have is working for you, then you do not need to change. However, if you have questions about your coverage and feel you may need to make a change, please call and discuss it with us.