When is Open Enrollment for Medicare?

Do you know when open enrollment starts for Medicare? Did you know that to get different parts of Medicare, you need to sign up at the right time? By utilizing these enrollment time frames, it can help you avoid paying higher premiums cause by late penalties.

To take advantage of open enrollment, you must first know what your options are. Here are the basics.

Medicare Part A is hospital insurance.

Medicare Part B is medical insurance.

Medicare Part C, also known as Medicare Advantage, is sold by private insurers as an alternative to Medicare Part A or B. They can offer different benefits and cover different areas including vision and dental.

Medicare Part D is for prescription drug coverage.

Medigap, also known as Medicare supplement insurance, are plans that help pay for out-of-pocket expenses that are not covered by Medicare Parts A or B.

The open enrollment period for Medicare (except Medigap) is three months before you turn 65 and three months after you turn 65. Remember to sign up during enrollment or you’ll end up paying higher premiums.

The general open enrollment for Medicare goes from January 1 to March 31 every year. If you sign up during this general enrollment, coverage will not start until July 1.

The Fall open enrollment for Medicare is October 15 to December 7. During this enrollment you can make changes to your coverage, without higher premiums. It’s a good time each year to compare coverage plans and make sure you are using it efficiently as well as assess your health and medical or prescription needs.

To find out more about open enrollment and to find the best plan that will work for you and your expectations for your lifestyle. Call Advanced Insurance Concepts today and Jim Rooney will work with you to find the best insurance policy.