What are SEPs? Do you need one?

What are SEPs? Do you need one?

Lately I’ve been getting this question. What is an SEP? The full meaning of SEP is Special Election Period. Now, this is a period when federal and/or state governments permit people and/or families to sign up for a health plan or new health plans, depending on what happens to them i.e. their health condition. There are over a dozen different SEPs working in the health insurance and Medicare industry. They may be similar to moving to a new policy in the area, or giving up an existing plan or gaining a position or job, may be related to reaching or losing a reached age. This could be related to special dates such as your birthday or your plan to cancel business in an existing area. These opportunities exist to help members sign up for important health insurance without waiting for the open or annual enrollment period.

Working with the right SEP can help people obtain the necessary health and Medicare plans for themselves and their families to maintain a quality of life. You can offer new or deprived rights the opportunity to get the top medical health plans they both want and need. By making correct use of the right SEP, they could be saving thousands of dollars that might not be at their disposal. There are more than 15 separate and different Special Enrollment Periods in Medicare Advantage policies, Part D policies, and Medicare supplement plans. There are about as many Special Enrollment Periods present when working with affordable medical attention or ACA. This may provide extra options and services which you may not know about them.

You are the most important thing about SEPs. Every individual needs an important medical policy for themselves or their family or spouse. Just a four-day visit to a hospital for an emergency puts the financial balance of someone with medical fees that reach 6 digits. Medical cost is the leading cause of bankruptcy in our country. Can you imagine working your whole life and facing this accident without being prepared? A total life saving can disappear completely in a matter of weeks or days, and that can be scary. The final game can be horrible. There are Special Enrollment Periods in Medicare and ACA. If you do not need one, that’s fine. If you need one, it may even be better. You just have to keep asking the questions.