Medicare Enrollment Periods
After choosing the right Medicare plan to cover your healthcare needs and checking your eligibility, the next step is enrolling yourself into your plan of choice.
Medicare Initial Enrolment Period
This seven-month window starts three months before your 65th birthday month and ends three months after it for older beneficiaries. If your birthday month is on the first day of the month, your Medicare enrolment period will begin and end a month earlier. For example, if your birthday is on the first of May, your enrolment window begins on January 1st.
If you are under the age of 65, the period begins three months before and ends three months after your 25th month of receiving Social Security benefits.
You can join Medicare Part A, Part B, Part C (Medicare Advantage), and Part D during this period.
Medigap Open Enrollment Period
Original Medicare beneficiaries are eligible for Medigap and its enrollment period begins from the date your Medicare Part B coverage begins and ends after six months. The Medigap Open enrolment period is a one-time election period.
What if I missed my Medicare enrolment?
Missing your initial Medicare enrolment period comes with a few penalties and you may have gaps in your coverage. The penalties are:
- An extra 10% on your Medicare premiums for 12 months when you have Medicare Part B and it remains constant as long as you have Medicare coverage.
- An extra 1% on your Medicare Part D premiums for as long as you have coverage.
- An extra 10% on your Medicare part A premiums for twice the number of years you had no Medicare coverage. This applies when you miss your enrolment period or if you do not qualify for Medicare because you have not worked long enough in the US.
I have employer coverage; does it affect my Medicare enrolment?
If you continue working after you have reached 65, you can continue with your employer coverage and you will not be penalized when you decide to sign up for Medicare. In this case, you can enroll for Medicare during a Special Enrolment period. It lasts for eight months right after you or your spouse stops working or when your employer coverage ends.
How does the Medicare Special Enrolment period work?
You can enroll in Medicare without penalty during this period when unique situations occur. Medicare Special Enrolment periods are open depending on your situation. Examples of such situations may be:
- Moving out of your Medicare service area
- When you require extra coverage for your healthcare
- When you are moving from employer coverage to Medicare
If you want to know whether you are eligible, our Medicare insurance agent will help you see the options available for you.
When to enroll in Medicare Part and Medicare Part D
You can enroll for Medicare Advantage and Medicare Part D each fall during the annual enrolment period between October 15th and December 7th. During this period, you can make changes to your Medicare Advantage and Part C plans or move to or from Original Medicare.
If you miss this period, you can join any one of these plans during the next enrolment period and you do not have to pay a penalty.
Ready to enroll in Medicare?