There are several enrollment periods for Medicare and this can be confusing for people. There are three main enrollments: SEP, AEP, and OEP. I will provide some clarification on all three.
- SEP – Special Enrollment Period. This is an enrollment period that applies specifically to a situation. For example, when you turn 65 or leave employer coverage you have a SEP. This enrollment applies individually and for individual circumstances. The timeframe depends on the specific event.
- AEP – Annual Enrollment Period. The annual enrollment is every year from Oct. 15 to Dec. 7. It is the annual window for anyone with Medicare to change Advantage or Part D plans. You can make as many changes as needed; the last one stands.
- OEP – Open Enrollment Period. This enrollment period is for only those already in a Medicare Advantage plan and it is from January to March of each year. Customers can switch to a different Medicare Advantage plan or drop it Medicare offers three main enrollment periods to return to Original Medicare (with/ without Part D). Limit: Only one plan change allowed during this period.
We are currently in OEP. So why would you want to switch to a different Medicare Advantage plan? Perhaps you failed to make a change to your Advantage plan during AEP or perhaps you did make a change and now are unhappy with the choice you made.
You have a one-time opportunity to make a switch before you are locked in for the year.
I hope this helps you understand a little more about the options available to you. The terms and names are confusing (no one consulted me on this) but I am here to help make some sense out of things.
If you would like to confirm that you are on the correct plan or have questions about your plan, please feel free to call me.
If you are turning 65 this year, it is not too early to start to understand the rules and facts of Medicare. I can help you understand the rules of the road.
Call Lynne Jones, a licensed sales person, at (480) 212-2246 or email me at lynnejones17@gmail.com.