By Kiley Engle, EHD Medicare Benefits Specialist
When can you sign up for Medicare? The short answer is… it depends.
Medicare has specific enrollment periods. Signing up at the wrong time or delaying enrollment can lead to penalties, gaps in coverage, or higher premiums so it’s important to understand when you’re able to sign up. Like the complexity of Medicare’s parts and plans, there are several enrollment periods and situations in which someone can enroll which can be tricky to keep track of. In the following sections, you’ll be able to learn about each enrollment period and what they entail so you can go into your Medicare enrollment period(s) confidently.
Initial Enrollment Period (IEP)
The Initial Enrollment Period is the first enrollment period for Medicare. This enrollment period is a 7-month time frame surrounding your 65th birthday when you can enroll in Medicare Part A and/or Part B, a Medicare Advantage or Medigap plan, and a Part D drug plan. The period starts 3 months before the month of your birthday and lasts during the month of your birthday and 3 months after the month of your birthday. For example, if you were born September 15, your Initial Enrollment Period would be June 1 – December 31.
Special Enrollment Period (SEP)
If you and/or your spouse are still working and you have creditable insurance through an employer, you don’t need to enroll in Medicare during the Initial Enrollment Period. When that creditable coverage ends (at retirement/end of employment), you will have an 8-month Special Enrollment Period to enroll in Medicare. There are several other circumstances that trigger a Special Enrollment Period as well, including moving out of a plan’s service area or qualify for Medicaid.
General Enrollment Period (GEP)
If you missed your Initial Enrollment Period and didn’t qualify for a Special Enrollment Period (don’t have other creditable coverage), you can enroll in Medicare during the General Enrollment Period. The GEP lasts from January 1 – March 31 each year. This enrollment period should be a last resort, as it often comes with lifelong penalties that come with late enrollment.
Annual Enrollment Period (AEP)
The Annual Enrollment Period lasts from October 15 – December 7 each year and exists for those already enrolled in Medicare to make changes to their plan. This includes enrolling in or changing Medicare Advantage plans, making changes to Part D plans, and/or returning to Original Medicare (Parts A&B) from an Advantage plan. It’s smart to review your plan each year at this time to ensure you are still happy with your coverage. Keep in mind that Medicare plans can change their costs, what is covered, and their provider networks annually, so reviewing your plan ensures you are still enrolled in a plan that works for your needs.
Medicare Advantage Open Enrollment Period (MA OEP)
This period is similar to the Annual Enrollment Period but is only for individuals that are already enrolled in a Medicare Advantage plan. This period lasts from January 1 – March 31 each year. During the Medicare Advantage Open Enrollment Period, you can switch to a different Medicare Advantage plan, disenroll and return to Original Medicare (Parts A&B) – if returning to Original Medicare, a standalone Part D plan will need to be selected.
Key Takeaways
Like Medicare itself, there are several factors to keep in mind when thinking about enrollment periods. Similar to how there is no “one-size-fits-all” Medicare plan, enrollment periods and necessary action can vary depending on each person’s situation. Knowing when to enroll or make changes is just as important as knowing what plan to choose. If you’re eligible or soon becoming eligible for Medicare and have questions about plans, enrollment periods, or just want some general guidance to help you make the best decision for your life, working with a Medicare Benefits Specialist can help ensure you have necessary information regarding plans and enrollment periods and make informed decisions. The Medicare website is also a great resource and tool. For Medicare updates and more information, visit CMS.gov.
