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John Dubas By John Dubas • October 21, 2016

The Gift That Keeps Giving – Special Election Periods


While we are now into the Annual Election period for Medicare beneficiaries (AEP runs October 15th through December 7th), and there are still weeks to help beneficiaries with the choices they have in front of them, opportunity does not end with Pearl Harbor Day.  We spoke of planning for other sales opportunities in Planting and Harvesting, but a full range of opportunity awaits us in the Medicare arena as well.

Any Medicare product carrier you speak with and many of the marketing organizations like ours speak to incredible opportunity presented by the aging of the Baby Boomers over the foreseeable future, with over 10,000 people a day turning 65.  A burgeoning market for certain, that demands our attention and the skills and product we offer, through the newly eligible (ICEP/IEP) Special Election Period.  But, as we discuss in Selling to the Medicare Market Year-Round, several “Get-Out-of-Jail-Free” cards are available to play throughout the year.  These Special Election Periods (SEPs) allow qualifying beneficiaries to make an election outside the traditional enrollment periods.

Some of the more commonly exercised Special Election Periods include those who: worked past the age of 65 and deferred enrolling in Part B because of continued employment; had a loss of Group Coverage; changed their residence in a permanent move to a new service area; are Dual Eligible or recipients of Low Income Subsidy; or, qualify for a Chronic Care Special Needs Plan.  Some of these SEPs are a once-a-year opportunity to change c0verage, while other permit change each month, if so desired.  There are many other election period SEPs as well.

Another area that is sometimes overlooked is the segment of Medicare Beneficiaries served by traditional Medicare Supplements.  While their prescription Drug plan may well be subject to look-in, they may well change their medical coverage any time throughout the year, if they qualify for that change medically, or if they reside in a state that grants the opportunity to do so without underwriting through the “Birthday Rule.”

So, all in all, there really isn’t a down time for those concentrating on the Medicare market. What you have is a changing emphasis that allows you to market continuously, and compliantly.  Give us a call and let us help through this busy season, and keep you busy (and profitable) all year round – 1-800-442-4915.