Medicare enrollment is particular and can only be done at certain times. If you want to enroll in Medicare, it’s best to speak with an insurance agent who can provide details about the enrollment periods you qualify for.
Initial Enrollment Period
Every individual who qualifies for Medicare is given an Initial Enrollment Period. This begins three months before their 65th birthday and extends three months after their birthday. In total, the Initial Enrollment Period lasts for seven months.
Special Enrollment Period
Those who have healthcare through an employer may not want to enroll in Medicare during their Initial Enrollment Period. If this is the case, they will be granted a Special Enrollment Period which will span the time after their employer insurance ends.
Annual Enrollment Period
The Annual Enrollment Period is excellent for those looking to change their current Medicare coverage. It begins on October 15 and ends on December 7 of each year. You can change your Medicare Advantage and Part D plans during this period.
What are the different Enrollment options available?
Self-enrollment is possible and can be done online. However, many people appreciate the help of an insurance consultant. These professionals play an instrumental role in making insurance decisions and selecting the right policies for each client.
Initial Enrollment
There are specific periods that Medicare has designated for enrollment. The first of these periods is for initial enrollment.
What is the Initial Enrollment Period?
The Initial Enrollment Period (IEP) is an individual’s first chance to sign up for Medicare. The period begins three months before the beneficiary’s 65th birthday and ends three months after their birthday. This means that the Initial Enrollment Period lasts for seven months total.
Why should I enroll during my Initial Enrollment Period?
Initial Enrollment Periods are the best time to enroll because there will be no late fees, and you have the widest variety of options. Choosing to enroll later could increase your bill or limit the available options.
How will I know my IEP has started?
Individuals who qualify for Medicare will be mailed a packet three months before their 65th birthday. This packet will contain important information regarding the options available and what prices may be associated.
Annual Open Enrollment
What is the Annual Open Enrollment Period?
The Annual Open Enrollment Period is when beneficiaries can make necessary changes to their Medicare plan. This is when beneficiaries should evaluate the past year and make any changes required to ensure they’re getting the most out of their health insurance.
When is the Annual Open Enrollment?
The Open Enrollment period begins on October 15 and ends on December 7. It’s essential to follow these dates strictly and take the appropriate steps if you decide to change plans.
Why change my plan?
Medicare plans can change each year. This means that coverage can shift, and an area in which you need coverage may no longer be offered within your policy. If this is the case, it’s essential to research and find an option that provides the coverage you need.
Wanting to make a change?
If you’re not completely satisfied with your policy and are wondering what other options are available, our professionals at Senior Insurance Consultants can discuss different possibilities with you. You deserve the best health insurance policy, and we will work to find that for you.
Special Enrollment Period
Special Enrollment Periods are given to those with a valid reason for not enrolling during their Initial Enrollment Period or who have moved and need to change their plan.
Employer Coverage
Special Enrollment Periods (SEP) are given to those receiving employment insurance during their Initial Enrollment Period. Medicare recognizes that those still working may not need additional insurance and will grant a SEP in those situations. Typically, beneficiaries have 60 days before or after their employer insurance coverage ends to enroll in Medicare. However, this timeframe may be different depending on the situation.
Moving
Because Medicare plans depend on the location where the beneficiary lives, they may be granted a SEP if they move. A SEP given because of moving may last for three to four months, depending on when the beneficiary notifies Medicare.
Self-Enrollment Information
If you’re receiving Social Security Benefits and 65, you’ll most likely be automatically enrolled in Original Medicare. Original Medicare consists of Parts A and B, providing standard coverage.
If you’re not automatically enrolled in Medicare, you can enroll online. Online enrollment can be done through the Social Security website. If you want to enroll in person, call your local Social Security office and make an appointment to speak with someone. You can also call Social Security to enroll.
Choosing a Medicare Plan
Original Medicare or Medicare Advantage?
When choosing a Medicare plan, one of the biggest questions is whether you’ll enroll in Original Medicare or Medicare Advantage. Original Medicare consists of Parts A and B, covering many hospital costs and medically necessary services. Medicare Advantage allows the beneficiary some more options in selecting the areas of coverage they prefer but will always include Original Medicare coverage.
Vision, Dental, and Hearing
Vision, dental and hearing coverage is not included in Original Medicare. If you wish to have those within your policy, it’s best to choose Medicare Advantage. While Medicare Advantage may be more expensive, it can save money in the long run.
Comparing Supplement Plans
There are many different supplemental insurance options available. While this can be extremely helpful, it can also make the selection process stressful. Our team at Senior Insurance Consultants can guide you through the process and make sure you’re choosing the right plan for you.
Questions To Ask
When considering different plans, there are a few questions to consider:
-
- Does this plan cover the part of Medicare that you use most?
- Could a specific Medigap plan have lessened your past bills?
- Are you anticipating high medical bills in the future?
Coverage
Medigap plans range in costs and don’t all provide coverage in the same areas. The best way to be sure you’re selecting the right plan is to speak with an insurance agent. By learning more about your specific situation, they’ll be able to do any additional research for you and suggest the best insurance plan.