What is the Medicare Enrollment Period?

Medicare plans can change in price and benefits each year. The enrollment period gives you the opportunity to shop and change to a new health plan that better fits your needs.

If you’re content with your current plan, no action is required to maintain it. However, if you’re contemplating a switch, conduct thorough research on available plans and consult a licensed health insurance agent.

GEP – The General Enrollment Period runs annually from January 1st  to March 31st.

General Enrollment Period helps if you did not enroll in Original Medicare during your Initial Enrollment Period and do not have creditable coverage.

In such a case, you must wait until the General Enrollment Period to sign up for Original Medicare.

Medicare Plans

Medicare Enrollment Periods Defined

  • IEP – Your Initial Enrollment Period for Medicare is a seven-month Medicare enrollment period that allows you to enroll in Medicare Part A and Part B. You will receive this enrollment period upon your 65th birthday or receiving your 24th Social Security disability check, whichever comes first. As soon as you have your Medicare ID you can proceed to enroll in a Medicare Advantage (MA) or a Medicare Advantage/Prescription Drug (MA/PD) that covers gaps in Original Medicare Parts A sand B.
  • AEP – The Annual Enrollment Period for Medicare occurs each year from October 15 to December 7 and allows those on Medicare to make several changes to their Part D (prescription) and Part C (Medicare Advantage) coverage. These changes take effect on January 1st of the following year.
  • OEP – The Open Enrollment Period allows anyone enrolled on Medicare Advantage to make a one-time change to their coverage from January 1 through March 31. During the Medicare Advantage Open Enrollment Period, you can switch Medicare Advantage plans or return to Original Medicare. It is essential to understand that this enrollment period is only for those already on Medicare Advantage. You may not enroll in a new Medicare Advantage plan during this time.
  • SEP – A Special Enrollment Period happens when you delay Original Medicare enrollment when you were first eligible with creditable coverage. The most common reason for postponing Original Medicare coverage is because you had employer coverage in place when you turned 65. Caution:  Not everyone on Medicare will become eligible for a Special Enrollment Period. Additionally, those who do become eligible must prove that they qualify.

Questions About Enrollment?

When you sign up for Medicare during the General Enrollment Period, your coverage goes into effect on the first day of the following month.

For example, if you enroll during March, your coverage will become effective on April 1.

Remember, when you enroll in Original Medicare during the General Enrollment Period, you may be responsible for paying late enrollment fees.

Yet, this depends on how long you delayed Medicare benefits without creditable coverage.

Not sure what to do with your choices during the AEP? That’s what we’re here for.

Call us toll free at (817)-809-4837 or click here to email us your name and phone number for us to call you.