What Are The Different Medicare Enrollment Periods?

July 3rd, 2022

Knowing what the different Medicare enrollment periods are can be confusing. However, being clear on when you can enroll, dis-enroll or make a change is very important and will give you the power to be in control of your Medicare benefits.

Let’s break down the different Medicare enrollment periods:

• Initial Enrollment Period (IEP)

The Initial Enrollment Period (IEP) is for people just becoming eligible for Medicare, usually at age 65. IEP lasts 7 months: 3 months before the month of your birthday, the month of your birthday and 3 months after the month of your birthday. During IEP, you should enroll in Medicare Part A and Part B (this will be done automatically if you already receive social security benefits).

Once you receive your Medicare card in the mail, you can then enroll in any plan you want (Medicare Supplement or Medicare Advantage) and you won’t have to answer health questions (medical underwriting).

Please note that if you enroll in a plan during the first 3 months of your IEP, the earliest your Medicare benefits will be effective is the 1st day of the month you turn 65.

• Annual Enrollment Period (AEP)

The Annual Enrollment Period (AEP) takes place every year from October 15th through December 7th. During AEP, you can enroll in a Medicare Advantage plan, make a change from one Medicare Advantage plan to another or dis-enroll from a Medicare Advantage plan. This is also the time to enroll, make a change or dis-enroll from a Prescription Drug plan (PDP).

Any new enrollment or change of plan will have an effective date of January 1st of the following year.

• Medicare Supplement Open Enrollment Period

Medicare Supplement Open Enrollment Period starts the first day of Medicare Part B effective date (usually the month you are turning 65 but not always) and lasts 6 months. During this time, you can enroll in any Medicare Supplement plan you wish without having to answer health questions (medical underwriting), which means you are guaranteed to be accepted by the plan (guaranteed issue). You can also make as many changes as you want.

If you want to enroll in a Medicare Supplement plan and don’t qualify for guaranteed issue, your application can potentially be denied. Taking advantage of the Medicare Supplement Open Enrollment Period is very important, especially if you have health issues that will prevent you from enrolling in a Medicare Supplement plan later.

• General Enrollment Period

The General Enrollment Period is for people who want to sign up for Part A and/or Part B and didn’t do it when first eligible. It takes place every year from January 1 to March 31. The effective date(s) will be July 1.

Please note that delaying your Part A and B enrollments can make you face penalties.

• Medicare Advantage Open Enrollment Period

The Medicare Advantage Open Enrollment Period is from January 1st through March 31st every year. During this time, people on a Medicare Advantage plan can make a one time change and switch plan or go back to Original Medicare.

The effective date will be the first day of the month following the month you make a change.

As you can see, there are many different types of enrollment periods Medicare members can take advantage of. If you need help identifying which one would fit your situation, contact us today.