What Are The Most Important Medicare Enrollment Periods?

Initial Enrollment Period

The Initial Enrollment Period (IEP) is the ideal time to enroll in Medicare. The IEP is a seven-month window that commences three months before your 65th birthday, your birthday month, and the three months after your birthday. Suppose your birthday is in September, your IEP starts on June 1 and ends on December 31. However, if your birthday is on the first day of the month, the entire IEP shifts forward by one month. For that reason, if your birthday is September 1, your IEP begins on May 1 and ends on November 30. 

Special Enrollment Period

A Special Enrollment Period is a window that allows individuals to enroll in Medicare beyond the regular enrollment periods. The SEP is feasible if you receive healthcare insurance from a company that you or your significant other are presently working for. A SEP allows you to defer enrollment into Part B until the policy or employment ends.

You can also qualify for a SEP if you move outside your current plan’s service area, lose your coverage, or your plan’s contract with Medicare is changed.

General Enrollment Period

When the IEP or SEP is unutilized, there is another chance to enroll in the program. Enrollment for Medicare Parts A and B may also occur between January 1 and March 31 each year. Medicare coverage starts on July 1 of the same year. If Part A is required during this period, enrollment in Part B is needed during this period as well. However, keep in mind that you may be subjected to late enrollment penalties for not enrolling during the other periods.

Open Enrollment Period

Open Enrollment or Annual Election is a period that spans October 15 to December 7 every year. During this period:

• Part A and Part B holders can change to a Medicare Advantage policy (Medicare Part C).
• A Medicare Part C holder can change to Part A and Part B.
• You can enroll, drop, or change a Part D prescription drug plan.
• Coverage associated with the Open Enrollment kicks off on January 1 of the following year.

Medigap Enrollment Period

It’s advised to buy a Medigap plan over the six-month Medigap Open Enrollment. During this window, you can enroll in a Medicare Supplement Plan without being denied coverage or asked medical questions to determine your eligibility. This period begins as soon as you enroll in Part B. 

If you have any questions regarding Medicare enrollment periods, contact Advanced Insurance Concepts at 816-476-8191. We will walk you through the enrollment process to help you avoid any permanent late enrollment penalties.