What is the Medicare Open Enrollment Period (OEP)?

The Medicare Annual Enrollment Period (Oct 15th-Dec 7th) can feel like a chaotic time for many of those on Medicare. Many worry that they may enroll into the wrong plan or not realize the changes happening to their current plan. It’s all too easy to misunderstand the rules or forget to check whether a certain doctor is in the network. Those enrolled in Medicare Advantage plans sometimes find themselves stuck in a plan that they do not like, due to mistakes like these. The Medicare Open Enrollment Period (OEP) is designed specifically to help Medicare beneficiaries in these situations.

What is the Medicare OEP?

In 2019 the Centers for Medicare and Medicaid Services (CMS) changed the rules, allowing Medicare beneficiaries to use a period called the Medicare Advantage Open Enrollment Period (OEP) to make a one-time change at the beginning of the calendar year.

This Medicare Advantage Open Enrollment Period is not new. It used to be a regular enrollment period before the ACA legislation discontinued it. The ACA law signed in 2010 ended the Medicare OEP and replaced it with a Medicare Advantage Disenrollment period. This period ran from January 1st to February 14th. During this time Medicare Advantage enrollees could only go back to Original Medicare. They weren’t allowed to change from one Medicare Advantage plan to another.

That has now changed, allowing this to go back to the way before the ACA legislation. Let’s take a look at what changes you can make in the 2022 Medicare OEP.

How can I use the Medicare OEP?

The Medicare OEP allows those who are enrolled in a Medicare Advantage Plan to make a one-time change. During the Medicare OEP you can:

Switch from one Medicare Advantage plan to another
Disenroll from a Medicare Advantage plan to return to Original Medicare. You have the option to enroll into a Part D drug plan

The Medicare OEP does not, however, allow a beneficiary to change from one Part D plan to another. Also, once you make a change, you will be locked into your plan choice until the end of the year. The only way to change after this would be if you have a Special Election Period (SEP).

What is the difference between AEP and OEP?

The difference between the two enrollment periods is the time period you have to make a change, the amount of changes you can make in that time period, and what changes you can make.

Annual Enrollment Period (AEP):

Runs from October 15th to December 7th
You can make as many changes as you want in this period with the last change made taking effect on January 1st.
You can make any change you want (Medicare Advantage to drug plan, Drug plan to Advantage, Original Medicare to Advantage, Enroll into a drug plan, or return to Original Medicare only)

Open Enrollment Period (OEP):

Runs from January 1st to March 31st
You can only make one change during this time period
Only those with a Medicare Advantage plan can make a change (change to a different Advantage plan, enroll into a drug plan, or return to Original Medicare)

The way we look at it is the AEP is best to review changes for the next year and ensure you are on the set up that best fits your needs. The OEP is better looked at as a re-do period to fix mistakes, or adjust for life changes.

A Lot To Remember

We understand that there are many enrollment periods and little rules to remember with Medicare. We hope this article helps clear some things up. This is why we are here to help if you have more detailed questions and need help navigating your options, so you don’t have to keep asking yourself, “What is the Medicare Open Enrollment Period (OEP) again?”

FAQ

How long is OEP for Medicare?

The OEP runs from January 1st to March 31st.

What can be done during OEP?

During OEP you can:

Switch from one Medicare Advantage plan to another
Disenroll from a Medicare Advantage plan to return to Original Medicare. You have the option to enroll into a Part D drug plan

Is Medicare OEP New?

That has now changed, allowing this to go back to the way before the ACA legislation.

What does OEP mean?

OEP stands for Open Enrollment Period. It’s an enrollment period that allows Medicare members to change their Medicare Advantage plan from January 1st to March 31st.

Who can Change during OEP?

Those who have a Medicare Advantage plan can make a change during OEP.

Can I change drug plans during OEP?

No. Only those enrolled into a Medicare advantage plan can change to a drug plan, canceling their Medicare Advantage plan.