Medicare Enrollment Periods
What Are Medicare Enrollment Periods?
A Medicare enrollment period is a specific window of time during which you can either enroll in or change your Medicare benefits.
Whether you are enrolling in Medicare for the first time, or you are considering a change to your benefits, Medicare has specific timelines that are tied to your actions. A comprehensive understanding of these enrollment periods is crucial when navigating the intricacies of Medicare, especially as they relate to preventing gaps in coverage as well as avoiding any late enrollment penalties.
What are the Medicare Enrollment Periods?
Initial Enrollment Period (IEP)
Your initial enrollment period is the 7 months that surround your 65th birthday. This enrollment period begins 3 months prior to your birth month and extends to 3 months after your birth month.
For most, this is the first opportunity to enroll in Medicare Parts A and B.
During your IEP you can add a Medicare Supplement, Medicare Advantage or Medicare Part D plan.
→ Learn more about the Initial Enrollment Period here.
Working Past 65
If you decide to work past 65, you could have an opportunity to enroll in Medicare under a Special Enrollment Period (SEP) for loss of employer group coverage. Applying during this SEP would allow you to avoid any penalties and prevent any gaps in coverage.
This enrollment period starts on either:
✓ the most recent date of employer coverage; or
✓ the date you are notified of losing coverage, whichever is later.
This enrollment period lasts 8 full months from your documented last date of group health coverage.
Note: To avoid any gaps in coverage, we recommend applying 2-3 months before your last date of coverage to coordinate the ending of group coverage and the beginning of Medicare.
→ Learn more about this Special Enrollment Period here.
General Enrollment Period (GEP)
If you missed your initial enrollment into Medicare Parts A and/ or B, you can apply during the General Enrollment Period. This enrollment period occurs annually from January 1 – March 31st and your coverage would start the first day of the month following your request for benefits.
For planning purposes, you would not want to use this enrollment period as your initial enrollment into Original Medicare because you could face gaps in coverage as well as late enrollment penalties.
→ Learn more about the General Enrollment Period here.
Annual Enrollment Period
The Annual Enrollment Period is the one time of the year that allows all Medicare enrollees to change their existing Medicare coverage. This enrollment period runs annually from October 15th – December 7th.
During AEP, you can add, change or drop your Medicare coverage, depending on your specific needs. If you want to make changes, it is important for you to understand that, unless you qualify for a Special Enrollment Period/ other enrollment period, this could be your only time to make changes.
During AEP, you can make the following changes:
✓ Leave your Original Medicare plan and switch to Medicare Advantage.
✓ Leave your Medicare Advantage plan and return to Original Medicare.
✓ Leave a Medicare Advantage plan that you’re currently enrolled in and change to another Medicare Advantage plan.
✓ Enroll in a Part D Prescription Drug plan.
✓ Switch to a different Part D Prescription Drug plan if you’re currently already enrolled in one.
✓ Drop your Part D coverage completely, without being penalized, if you have creditable coverage through an employer or other source.
→ Learn more about the Annual Enrollment Period here.
Medicare Advantage Open Enrollment Period (OEP)
This enrollment period, which occurs from January 1st – March 31st, allows Medicare beneficiaries enrolled in a Medicare Advantage plan the opportunity to make a one time change to their benefits.
Under OEP, there are two allowable changes that you can make:
Enroll in another Medicare Advantage plan with or without drug coverage; or,
Disenroll from your Medicare Advantage plan and return to Original Medicare with a Part D drug plan.
Note: Any changes during OEP would begin the first of the month following application submission.
→ Learn more about the Medicare Advantage Open Enrollment Period here.
Special Enrollment Periods for Qualifying Life Events and Changes
Medicare understand that life happens and, depending on your situation, you could qualify for a Special Enrollment Period (SEP) to assist in enrolling and managing your Medicare benefits.
A SEP allows you to delay enrolling in Part B and D without incurring a late enrollment penalty (LEP). If you elected not to enroll for Parts B and D during your IEP, you would need to provide documentation of your Special Enrollment Period (SEP) eligibility to CMS in order to avoid any penalties.
Some of the events that qualify for a SEP include:
✓ Moving out of your plan’s service area
✓ Becoming eligible/ losing Medicaid
✓ Enrolling in a 5-star plan
✓ Becoming eligible and receiving Extra Help (also known as Low-Income Subsidy) with your Medicare prescription drug costs
✓ Residing in, moving into or leaving a nursing home or long term care hospital
All qualifying events allow you to make a change 30 days prior to or within 2 full months from the date of the life-changing event.
→ Learn more about these Special Enrollment Periods here.
Let us do the research for you.
MP Group eases your burden of exploring, choosing and enrolling in a Medicare insurance plan that’s right for you based on your unique circumstances. Best of all, there is no cost for you for our services, and you receive our support with your Medicare needs for your lifetime.
