how to prepare for medicare aep

^{How to Prepare for Medicare Annual Enrollment Period (AEP)}

• Know When Medicare Annual Enrollment Period Takes Place
• Create a Checklist to Figure Out What Type of Medicare Coverage You Need. ...
• Review Your Current Medicare Insurance Plan. Knowing your current monthly premium, annual deductible and type of plan before you compare your coverage options will help you determine if any changes ...
• Make a List of Medications and Evaluate Your Current Prescription Drug Plan (Medicare Part D) It’s important to keep a list of your medications to make sure you get the ...
• Understand the Difference Between Medicare Fall Open Enrollment and Medicare Advantage Open Enrollment Period. The Medicare Advantage Annual Enrollment Period can easily be confused with the Medicare Open Enrollment Period.

Full Answer

How do I prepare for AEP?

How to Prepare for AEP Like a Pro1 | Contract with Preferred Carriers. ... 2 | Complete AHIP and Medicare Certifications. ... 3 | Order Insurance Supplies for Selling Medicare. ... 4 | Gather Helpful Carrier Information. ... 5 | Start Generating Medicare Leads and Referrals. ... 6 | Prep Your Medicareful Website.Aug 31, 2021

How long is AEP for Medicare?

The Medicare Annual Enrollment Period – AEP for short – is a set time each year for changing your Medicare coverage choices if you choose to. AEP runs from October 15 to December 7. New coverage choices go into effect on January 1.

What is an AEP in Medicare?

Open Enrollment, also known as the Annual Election Period (AEP), is the period each year during which you may change your Medicare Advantage plan and/or Part D coverage, and/or return to Original Medicare. The AEP is October 15 – December 7.

What is the difference between AEP and OEP for Medicare?

AEP stands for Medicare Annual Enrollment Period and OEP stands for Medicare Open Enrollment Period. Depending on the context, OEP can refer to many other Medicare enrollment windows.Oct 5, 2021

What happens in AEP?

During AEP, you can select a different health or drug plan for the next year that works better for you. If your plan's provider is making changes to your plan, they'll send you an annual notice of change (ANOC) form. This explains the changes that will be included in your plan for the upcoming year.

Does AEP have a pension?

AEP SYSTEM RETIREMENT PLAN (Qualified Pension Plan) Employees are eligible to participate after completing one year of service with AEP. Employees are automatically enrolled in the AEP System Retirement Plan once eligible. Participants are 100% vested in their accrued benefit after three years of service.Dec 31, 2000

Why is AEP important?

Sometimes referred to as Medicare Fall Open Enrollment, it is especially important because it is the only time during the year when you can pick a new Medicare Advantage (Part C) or Prescription Drug Coverage (Part D) plan, among other options.

What is AEP Energy?

AEP Energy is a competitive retail energy provider for over half a million customers. Learn more at AEPEnergy.com.

What is the difference between annual enrollment and open enrollment?

Here's the bottom line on AE vs OE: Annual enrollment is for employees who get health insurance as part of their benefits. Open enrollment is for people who get insurance on the individual market. But everyone can make changes to their health insurance at any time of year, if they have a qualifying event.Aug 30, 2021

How many times can you switch plans during OEP?

Changes made during this period take effect the first of the month following the month you enroll. For example, if you switch to a new Medicare Advantage Plan in February, your new coverage begins March 1. Unlike Fall Open Enrollment, you can only make a single change during the MA OEP.

What changes can I make during OEP?

During MA OEP, you can make the following changes:Switch Medicare Advantage plans.Drop Medicare Advantage plan coverage and return to Original Medicare.Add a standalone Part D drug plan if you drop Medicare Advantage coverage.Sep 22, 2021

How many changes can I make during OEP?

one changeChanges made during OEP will take effect on the first day of the following month. Beneficiaries can only make one change during OEP. Once a change has been made during OEP, it cannot be changed again until the next AEP.

Ensure all of your certification requirements are met

It’s no secret that in order to sell Medicare, you had to have met a baseline of requirements. These include carrier certifications and compliance training, just to name a couple.

Check that all of the necessary supplies are ordered

If you’re not quite sure what we mean by “ordering necessary supplies,” let us explain. This part typically comes after passing the AHIP, when you’re officially certified. Your carrier may send you pre-enrollment packages that will have everything you need when selling the carrier’s Medicare plans.

Do what you can to generate leads

Look, we get it. AEP is a busy time of the year for many people, but especially for insurance agents. However, it’s still important that you continue to generate leads so that you’re able to keep business flowing after the AEP season.

Take care of yourself

This may not seem like the most pressing way to prepare for the AEP season, but trust us, it’s just as important as the other steps.

Summary

You work hard as an insurance agent to bring great deals and great coverage to all of the clients that you encounter, whether it’s during the AEP season or the regular calendar year. So now, it’s time to focus on everything you know and do what is necessary in order to be ready for the annual enrollment.

Evaluate Your Plan Usage and Upcoming Medical Needs

Before you begin looking for your next plan, it’s smart to examine and evaluate the one you already have.

Explore Your Enrollment Options

Once you’ve evaluated your current plan and looked into how your needs may change next year, you should check out what plans are available in your area. The first step will be choosing whether to enroll in Original Medicare or a Medicare Advantage plan.

Talk with an Agent

If you want to discuss your options with a professional, or if you’re struggling to choose a plan that you feel is right for you, we suggest connecting with a licensed sales agent. Finding a great insurance agent isn’t hard. And, did you know you don’t need to pay a dime for an agent to help you choose a plan?

What are the benefits of Medicare Advantage?

Some Lead Advantage Pro features and benefits: 1 Agent Initiated Consumer Online Enrollment ( AICOE ®) and PDF Enrollment features help you close sales face-to-face as well as over the phone and through the internet. 2 Tired of going to different carrier websites to see if providers are in-network for Medicare Advantage plans? Check out the exclusive Provider Look-up and Network Search ( PLANS) tool. 3 Run out of supplies? You can download the application for every carrier SMS works with. 4 Frustrated by Scope of Appointment (SOA) forms? See how easy it is to complete the SOA in less than three minutes. 5 Both the Blue Button and Rx Import features allow Medicare participants the ability to share their prescription drug lists, pharmacies and providers directly with you. Once you’ve obtained your client’s consent, this list can be accurately compiled in minutes. 6 Maximize Part D sales with All Carrier Part D Quoting

What is MID in Medicare?

The idea of MID is to pair your good, sound advice regarding a client’s Medicare solution with the convenience of self-enrollment. You can use MID to match beneficiaries with available plans based on individual healthcare, prescription drug needs and estimated out-of-pocket expenses.

Do SMS services require internet access?

In addition to SMS technology solutions, many carriers that work with SMS have their own technology options, some of which don’t even require the client to have access to the internet. Click here to view specific carrier requirements and options.

Can you order supplies with SMS?

Once you’re certified, you can order your supplies. SMS makes it easy to order marketing materials and enrollment kits. Contact an SMS marketing consultant for direct assistance, or to obtain a “cheat sheet” for obtaining step-by-step directions to ordering supplies from every carrier that works with SMS.