Medicare Enrollment

The Medicare enrollment periods are crucial in ensuring you receive coverage at the right time without having to pay extra costs. If you wait to enroll in Medicare, you will most likely have to pay a late enrollment penalty that will last for as long as you have Medicare coverage.

Here is an overview of some of the most important enrollment periods to pay close attention to.

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.

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