Initial Enrollment Period
The Initial Enrollment Period is a personalized period that begins three months before the month of your 65th birthday and lasts for seven months. When you enter this enrollment period, you have the option to enroll in Original Medicare, Medicare Part C, or Medicare Part D.
Medigap Open Enrollment Period
This period is a one-time enrollment period that begins as soon as your Part B coverage becomes effective. You will have six months to enroll in a Medicare Supplement Plan with the advantages of not being turned down or charged extra because of health conditions.
General Enrollment Period
If you do not enroll during the Initial Enrollment Period, you can do so during the General Enrollment Period, which begins on January 1 and ends March 31 of every year. If you choose to go this route, keep in mind that your coverage will not start until July 1 and you may have late enrollment penalties.
Special Enrollment Period
The Special Enrollment Period is another option to consider if you miss your Initial Enrollment Period. However, you are only eligible for this period if you are in a very specific situation, such as delaying enrollment because you already had health coverage but lost it. You may also be eligible for this period if you need to switch Medicare plans because you either moved out of your plan’s service area, or your plan’s contract with Medicare was changed.
Annual Enrollment Period
The Annual Enrollment Period begins on October 15 and ends December 7 of every year. This period allows Medicare beneficiaries to make changes to their current Medicare coverage. You can switch from Original Medicare to a Part C plan, or vice versa. You may also switch Part C plans or Part D plans.
For more information about which enrollment period suits you best, reach out to CJC Advisors today.