CMS has extended the FFM deadline to December 18, for clients to enroll in individual health plans with a January 1 effective date. However, the Open Enrollment Period (OEP) isn’t over yet. Agents have until January 15 to enroll clients in coverage effective February 1. The final weeks of the OEP are a great opportunity to pad your sales numbers and help more clients secure the coverage they need.
We all know that many people find health insurance confusing and have trouble selecting a plan. Others simply put off important decisions until the last possible moment. Those are challenges that agents must deal with all year long.
But the end of the year creates an additional challenge because the OEP overlaps with the busy holiday season, making it difficult, if not impossible, to reach some clients.
As clients return to their routines in January, they may find themselves better able to focus on choosing the right health plan. For many, the first two weeks of the new year provide a calmer window to evaluate options and make an informed decision.
You may also be able to help individuals who already have health insurance during the last month of the Open Enrollment Period.
As HealthInsurance.org explains, individuals who selected a plan early in the OEP and then changed their mind can log back into their exchange account and pick a different plan, and this option is available after January 1 in most states. “In that case, the new plan would then take effect in February — or March, depending on the date you enroll — and replace the plan that had taken effect in January.” The article does note that the out-of-pocket cap will reset when the new plan begins, even if the individual had out-of-pocket costs in January.
Similarly, consumers who were auto-renewed in their 2024 plan can make a change between December 20 and January 15 with no gap in coverage. This is from a CMS Fact Sheet:
After December 15, the Marketplace sends a notice to consumers who were automatically re-enrolled. Consumers who prefer to select a new plan actively can return to the Marketplace to do so before the January 15 close of Open Enrollment, at which point their January coverage generally will be through the auto-re-enrolled plan, and their active selection generally will be effective February 1.
The final stretch of OEP isn’t just about closing deals; it’s also an opportunity to build new relationships that could last well into the future. Very few insurance sales are just one and done; most continue for several years, meaning that any efforts you make now could have a long-term impact on your agency’s growth. That’s why it’s important not only to secure the sale but to build trust with your new clients. Make sure they understand how to use their benefits effectively, and don’t forget about them after OEP is over. By reaching out throughout the year and responding quickly to questions and customer service needs, you can position yourself as a year-round resource and reassure them they made the right decision by putting their trust in you.
The remaining weeks of Open Enrollment are crucial for agents to assist clients in securing the coverage they need for 2025. By focusing on follow-up, outreach, and education, agents can help clients avoid unintended gaps in coverage while meeting their own professional goals. Take advantage of this time to finish strong, ensuring both you and your clients start the new year on the right foot.