What is "OEP"?
We all just went through AEP and now OEP? What is OEP…. OEP is the Open Enrollment Period. If you have a Medicare Advantage plan that you signed up for during AEP, the Annual Election Period, you have the right to change to a different carrier during the OEP.
The OEP window is from January 1 to March 31. This time period is only used to make changes from one Medicare Advantage plan to a different plan and does not apply to drug plan changes or Medicare Supplement plans.
So why would you need to make changes during the OEP? It gives you an opportunity to try the plan you signed up for during AEP and if you find for some reason you don’t like that plan, you can make a 1 time change during the OEP. Any changes made during OEP is effective the 1st day of the next month.
If you have questions about your plan, missed the AEP window to change your plan, or know someone who didn’t change and now wants to, please feel free to contact our office and we will be glad to setup a time to review your options!