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Medicare AEP versus OEP: What’s the Difference?

Even for savvy clients, the enrollment process for Medicare can be confusing. One of the reasons for this is the multiple enrollment periods. The two most important time periods for both beneficiaries and agents to know the details of are the Open Enrollment Period (OEP) and the Annual Enrollment Period (AEP). Let’s compare the two:

AEP vs OEP – Open Enrollment Period

This is the time during the year when anyone who is eligible for Medicare can enroll in, change coverage from, or unenroll from a Medicare Advantage Plan or a Medicare Part D (or prescription drug) plan. This is the time when beneficiaries can make choices about their Medicare coverage without restrictions.  It usually runs from January 1st to March 31st each year. To be eligible to enroll in a Medicare Advantage plan during OEP.

AEP vs OEP – Annual Enrollment Period

This is the time period that is specifically designed for beneficiaries who are enrolled in Medicare Advantage plans to change their coverage. It occurs from October 15th to December 7th each year. There are some restrictions as to what beneficiaries can do during this time period, but those actions that they can take include enrolling in a different Medicare Advantage plan, switching to or back to Original Medicare (parts A and B), or enrolling in a Medicare Part D plan (prescription drug coverage). In order to be qualified to do any of those things, the beneficiary must already be enrolled in a Medicare Advantage plan.

It is of vital importance that beneficiaries are aware of these timelines.  If they are not aware of the time periods, missing OEP or AEP and failure to act can cause them to have lapses in their healthcare coverage or miss their opportunity to enroll in a different plan for the coming year.

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Extended Medicare Open Enrollment Period 2019

This year you have more chances to make sure you chose the best health care coverage available for your needs. There will be an Extended Medicare Open Enrollment Period 2019.  The extended period is called the Medicare Open Enrollment Period (OEP) and will run from January 1 through March 31st.

The Medicare Annual Election Period (AEP) is from October 15 until December 7 each year. The dates changed in 2011, but have been the same ever since.  For 2018 Medicare coverage, open enrollment ended on December 7, 2017. For 2019 coverage, open enrollment will run from October 15, 2018, until December 7, 2018.

During the annual enrollment period (AEP)  you can make changes to various aspects of your coverage.

• You can switch from Original Medicare to Medicare Advantage, or vice versa.
• You can also switch from one Medicare Advantage plan to another, or from one Medicare Part D (prescription drug) plan to another.
• And if you didn’t enroll in a Medicare Part D plan when you were first eligible, you can do so during the general open enrollment, although a late enrollment penalty may apply.

If you want to enroll in a Medicare Advantage plan, you must meet some basic criteria.

• You must be enrolled in Medicare Part A and B.
• You must live in the plan’s service area.
• In most cases, you cannot have End-Stage Renal Disease (some exceptions apply).

Extended Medicare Open Enrollment Period 2019 –  More about OEP

During the Medicare OEP from January 1 to March 31st you will have one more chance to make a plan change.  If you have a Medicare Advantage plan, you will be able to drop the advantage plan and go back to Original Medicare.  You can also add a drug plan at that time if you choose.  If you have a current Medicare Advantage plan or a PDP plan, you will be able to change to a different Medicare Advantage or PDP.  This is a one time election.

Extended Medicare Open Enrollment Period 2019 – Information about auto renewals on Advantage, Part D and Medicare Supplements

If you are enrolled in a Medicare Part D prescription plan or  Medicare Advantage Plan and you are happy with your coverage, you don’t need to do anything during open enrollment.  You should just confirm your current plan will continue to be available. If your plan is going to be discontinued and isn’t eligible for renewal, you will receive a notice from your carrier before open enrollment. If you don’t, it means you can keep your plan and don’t need to do anything during open enrollment.

Keep in mind, every year your benefits and premium could change.  Although you want to keep your current coverage for the following year, it’s important to check for and understand any changes that may apply. You should always check to make sure that your current plan is still the best choice available to you. The coverage of the available plans can changes from one year to the next. Although the plan you have now was the best option last year, you should make sure that is still the case for next year.

Following AEP is the Medicare Advantage Disenrollment Period that runs from January 1st through February 14th.  During this time, a Medicare Advantage plan member is able to disenroll from their current Medicare Advantage Plan. They can then go back to original Medicare and purchase a Medicare supplement plan if they choose.  They can purchase a new Part D Prescription drug plan ony if they disenrolled from an MAPD.

In 2019, the new enrollment period will be from January 1st through March 31st.

This enrollment period will allow Medicare Advantage Plan members to disenroll from their current plan and switch to a different Medicare Advantage plan.  They can only do this one time within this period.  They can also return to original Medicare and purchase a Medicare supplement if they choose. This is not Guaranteed Issue business.   Similar to the dis-enrollment period, members can only enroll in a new Part D plan if they have disenrolled from an MAPD.

Crowe and Associates is open from 8:00 am to 5:00 to answer any questions.  Call us at 203-796-5403

Medicare Advantage Open Enrollment Connecticut 2015

Crowe and Associates wants to make sure all our clients are aware of the Medicare Advantage Open Enrollment Connecticut 2015.  This is a great opportunity for both uninsured individuals as well as families to get much needed health coverage. Medicare Advantage plan companies are able to make plan and benefit changes to existing plans every January, during open enrollment. There will be major changes this year for many plans in Connecticut.  These changes include premium increases, plan terminations, as well as the introduction of referral based plans and more.

Medicare Advantage plans are currently offered in Connecticut by United Healthcare (AARP and  non AARP branded), Aetna, Connecticare, Anthem BlueCross BlueShield and also Wellcare.  Most of these companies will be making major changes to existing plan holders benefits.   Please note:  Medicare Supplement plans such as the AARP Medicare supplements (also called Medigap) do not change benefits.  They are only subject to rate increases.

The Medicare Open Enrollment Period

(OEP) is your opportunity to review your plan and make changes if necessary.  The OEP period runs from October 15th to December 7th.  If you apply for any changes during that period  they will be in force as of January 1, 2015.   OEP is the only opportunity during the year to change plans or companies. (Unless you have a special election).  Crowe and Associates works with all MAPD plans offered in Connecticut for 2015.  As a result, we are able to review all available plans to help you find the best option.  Plan reviews can be done by phone, at our office in Brookfield, our various library seminars or even in the home.

Please feel free to contact us if you would like to schedule a review for the open enrollment period.  You can contact us by either calling our office at 203-796-5403 or emailing us at admin@croweandassociates.com.