The Medicare Open Enrollment Period (OEP), which runs from January 1st to March 31st each year, is an important time for Medicare beneficiaries. It allows individuals enrolled in Medicare Advantage plans to make certain changes to their coverage.
Medicare Advantage Plan Changes:
Beneficiaries enrolled in a Medicare Advantage plan as of January 1 can switch to another Medicare Advantage plan or return to Original Medicare (Part A and B). This can be done only once during the OEP.
Prescription Drug Plan Changes:
If a beneficiary switches to Original Medicare during this period, they can also join a Medicare Prescription Drug Plan (Part D) to add drug coverage.
No Changes for Standalone Part D Plans:
Beneficiaries who have Original Medicare with a standalone Part D plan cannot use this period to switch their Part D plan.
No Effect on Medigap Policies:
The OEP does not provide an opportunity to purchase or switch Medigap (Medicare Supplement) policies. Medigap enrollment rules are separate and not tied to the OEP.
One-Time Change:
Each beneficiary is allowed one plan change during the OEP. Once a change is made, the beneficiary cannot make another change until the next Annual Enrollment Period, unless they qualify for a Special Enrollment Period.
Coverage Effective Dates:
Changes made during the OEP take effect on the first day of the month after the plan receives the enrollment request. For example, a change made in February will take effect on March 1st.
No New Enrollments for Medicare:
The OEP is not for individuals who are newly eligible for Medicare to enroll in Medicare Advantage or Part D. New enrollees have separate initial enrollment periods.
Marketing Restrictions:
There are specific rules restricting insurance providers from actively marketing to beneficiaries during OEP. This includes no unsolicited marketing materials specifically about the OEP.
Understanding these rules is crucial for anyone working with Medicare beneficiaries, especially insurance agents and healthcare advisors, to ensure compliance and provide accurate guidance.