Strategies for Excelling in AEP/OEP Season Amidst Changing CMS Regulations
By Fadi Agour
The Annual Enrollment Period (AEP) and Open Enrollment Period (OEP) of 2023 pose distinct challenges and opportunities for performance marketers in the health insurance industry. Navigating through evolving regulatory landscapes, dynamic consumer behaviors, and the imperative to distinguish oneself in a competitive market necessitates proactive and thorough preparation. Here, we delve into the top five strategies recommended by RPM’s internal Compliance team, emphasizing that these insights are not legal advice, and it is prudent to consult with your legal team to define your best practices.
1. Early Preparation and Adaptive Agility
To ensure a successful AEP/OEP season, commence planning well in advance, aligning strategies with regulatory changes and internal requirements. The CMS review timeline may extend up to three months or more, emphasizing the need for proactive submission of materials. Collaboration with compliance teams and legal experts is paramount to aligning efforts with new guidelines. Stay agile by anticipating and adapting to changing trends and consumer behaviors. Testing various audiences and marketing strategies enables flexibility, providing a competitive edge through data-driven decision-making.
2. Data-Driven Targeting for High-Intent Audiences
Harness the power of data-driven targeting to effectively reach your audience. Collaborate with experienced performance marketing professionals who understand compliance requirements and possess direct carrier relationships. Comprehensive tracking and visibility into lead performance are crucial for optimizing campaigns. Test campaigns well in advance to establish baselines for performance and volume, ensuring a seamless transition into the critical AEP and OEP dates.
3. Strategic Diversification for Market Success
Differentiate yourself in a crowded marketplace through strategic diversification. Explore exclusive lead and call flows to acquire high-intent leads and increase inbound calls. Leverage Owned and Operated (O&O) sites to control the consumer experience comprehensively, fostering trust with both consumers and carriers. Transparency and compliance wrapped around every product are vital components of successful market standing.
4. Stay Informed About Regulatory Changes
The Medicare space is subject to regulatory changes that can significantly impact marketing strategies. Diligence, proactivity, and close alignment with compliance teams are essential. Keep a vigilant eye on CMS updates, such as the 48-hour rule prohibiting policy writing until 48 hours after setting an appointment with the beneficiary. Stay informed about final clarifications on such rules and adjust marketing plans accordingly.
5. Collaborate With Experienced Partners
Forge partnerships with experienced marketing professionals possessing in-depth knowledge of compliance requirements and CMS regulations. Direct carrier relationships provide a competitive edge in compliance and marketing strategies. Leveraging the industry expertise of RPM can effectively navigate the complexities of Medicare marketing, ensuring successful AEP and OEP campaigns.
Conclusion: Set Yourself Up for Success in AEP/OEP Season
Are You Looking To Maximize Your AEP & OEP Campaigns? Connect with RPM, linking leading health insurance providers and agents with high-intent health insurance shoppers. Explore how RPM’s first-party data asset, proprietary technology, and expansive digital media reach can maximize your health insurance campaigns. Contact DMS today for unparalleled support in navigating the complexities of AEP and OEP.