There are 4 opportunities to for you to enroll in Medicare:
The IEP starts 3 months before, continues through the month of, and ends 3 months after your 65th birthday. These 7 months will likely be your first opportunity to enroll in Original Medicare (Parts A and B), Medicare Advantage (Part C), and/or Part D.
If you miss your IEP and do not enroll in Original Medicare and Part D, you have two options—qualify for a Special Enrollment Period (SEP), or do so during the GEP.
This period takes place from January 1st through March 31st. It allows you to enroll in Original Medicare. However, you may face late penalties—for every year you are not enrolled in Parts A and B, your monthly premium is increased.
The AEP takes place from October 15th through December 7th. As long as you are enrolled in Original Medicare, you can make any changes to your coverage. This can include:
- Switch from Original Medicare to a Medicare Advantage Plan
- Switch from Medicare Advantage to Original Medicare
- Switch from an Advantage plan without Prescription Drug Coverage to One with It
- Switch from a Plan with Prescription Drug coverage to one without
- Join or Drop a Part D Prescription Drug Plan
- Switch to a New Insurer
An SEP offers you an opportunity to enroll in any Medicare plan without penalties. Say, for instance, that you are still covered by employer health insurance when your IEP comes around.
If you choose to wait for Original Medicare, you won’t face any late fees, and you can enroll during a SEP the 6 months after your employer insurance ends. If you still don’t enroll during these 6 months, you will have to use the GEP.
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Enroll in Medicare at the Right Time—Call InvoBH
When it comes time for you to enroll in Medicare, you will have to find the coverage that works for you. Our top priority is your peace-of-mind, and we bet that it’s yours, too. Don’t waste anymore time—call InvoBH today at 314-669-4308.