People become eligible for Medicare at the age of 65, and every year, from October 15 to December 7, the Medicare open enrollment period starts. Enrolling in Medicare marks the beginning of a new chapter in many people’s lives. During this time, determining eligibility, document preparation, and submitting an application for your Medicare insurance may seem like a daunting task.
To help you make the medicare enrollment period a breeze, this article shares a few preparation tips, such as proof of eligibility, preparing your documents, reviewing your current plan, and more
When Is the Medicare Enrollment Period?
Everybody approaches 65 in a different way. It’s possible that you are considering retiring soon, have already retired, or intend to work for a bit longer. It’s essential for you to be aware of Medicare enrollment periods and take action during the appropriate time frames to ensure you have the coverage you need without facing potential penalties.
There are different enrollment periods for different parts of Medicare. Here are the key periods:
Initial Enrollment Period (IEP)
This is the initial opportunity for most people to enroll in Medicare. It starts three months before the individual turns 65, includes the month of their 65th birthday, and continues for three months after their birthday month. If someone becomes eligible for Medicare due to a disability, their IEP begins three months before their 25th month of receiving Social Security Disability Insurance (SSDI) and lasts for seven months.
General Enrollment Period (GEP)
If someone missed their Initial Enrollment Period and didn’t sign up during a Special Enrollment Period, they can enroll during the General Enrollment Period. This runs from January 1 to March 31 each year. Keep in mind that there may be late enrollment penalties for Part A and/or Part B coverage if you sign up during the General Enrollment Period.
Open Enrollment Period (OEP)
The Open Enrollment Period, also known as the Annual Enrollment Period, occurs each year from October 15 to December 7. During this time, individuals can make changes to their Medicare Advantage (Part C) and Medicare prescription drug coverage (Part D) for the upcoming year.
Medicare Advantage Open Enrollment Period (MA OEP)
From January 1 to March 31, individuals with a Medicare Advantage plan have the option to switch to another Medicare Advantage plan or drop their Medicare Advantage plan and return to Original Medicare. They can also sign up for a stand-alone Medicare Part D prescription drug plan during this period.
Medicare Advantage Open Enrollment Period (MA OEP)
From January 1 to March 31, individuals with a Medicare Advantage plan have the option to switch to another Medicare Advantage plan or drop their Medicare Advantage plan and return to Original Medicare. They can also sign up for a stand-alone Medicare Part D prescription drug plan during this period.
Special Enrollment Periods (SEPs)
Special Enrollment Periods are available for those who qualify due to certain life events, such as moving, losing other health coverage, changes in income, or becoming eligible for Medicaid. The timing and duration of SEPs can vary based on the qualifying event.
Medicare Enrollment Period Checklist
For those who qualify, Medicare offers federal health insurance, and these applications are still required. So, if your age qualifies you for the Medicare enrollment period, avail yourself of the necessary coverage and avoid paying the penalty. Three months prior to and three months after your birth month make up the seven-month initial enrollment period (IEP).
To ensure you have enough time to consider your alternatives, it is wise to plan ahead. Here are a few checklists you need to do.
Review Your Current Plan
Assess your current Medicare plan and decide if you want to make changes. During this period, you can switch to another Medicare Advantage plan or return to Original Medicare. You can determine the features you’ll need covered by your Medicare plan by taking into account the healthcare services you use the most and your travel plans.
Know Your Eligibility
Understanding when you are eligible for Medicare is crucial. The Initial Enrollment Period usually begins three months before you turn 65, includes the month of your 65th birthday, and continues for three months after.
Gather Information
Collect necessary documents, including proof of age, citizenship, and information about your current health coverage. Medicare must confirm your age. Either the original birth certificate or a government-validated ID. Here are a few documents you need to prepare.
- Your birth certificate or other proof of birth
- Proof of U.S. citizenship or legal residence (if you weren’t born in the U.S.)
- Social Security card if you’re already drawing benefits
- Proof of employment, if applicable (a copy of your W-2 form, for example)
- U.S. military discharge papers, if you served before 1968
Visit the Social Security Website
If you’re already receiving Social Security benefits, you may be automatically enrolled in Medicare. If not, you can apply online on the Social Security Administration (SSA) website or visit your local Social Security office.
Proof of Income
Medicare will accept your W-2 or your employer’s statement of earnings as proof of income, or if you work for yourself, a copy of Schedule C and SE from your tax return. This influences the cost of other premiums as well as whether you have to pay a premium for Part A. If you receive benefits, you will require a copy of your Social Security Statement.
Consider Medicare Advantage Plan
A Medicare Advantage plan can be a wise option if you need more coverage than what Original Medicare offers. The same benefits as Original Medicare are provided by Medicare Advantage plans, along with extras like health and wellness fitness resources, over-the-counter (OTC) benefits, dental and vision coverage, and more.
Create a free account at Medicare.gov
The website provides a wealth of trustworthy information about Medicare essentials, including the contact details of organizations that can help people with enrollment-related inquiries.
Frequently Asked Questions About Medicare Enrollment Period
Can I get Medicare if I have not worked?
Yes, you can be eligible for Medicare even if you have not worked. Most people become eligible for Medicare at age 65 based on their age, and work history is not a requirement for Medicare eligibility. Individuals under 65 may qualify if they have received Social Security Disability Insurance (SSDI) for 24 months or have certain qualifying medical conditions.
When does Medicare open enrollment end?
The Medicare Open Enrollment Period, also known as the Annual Enrollment Period (AEP), typically ends on December 7th each year. During this period, beneficiaries can make changes to their Medicare Advantage (Part C) and Medicare prescription drug coverage (Part D) for the following year.
When is the Medicare Supplement open enrollment period?
The Medicare Supplement open enrollment period begins when you are both 65 or older and enrolled in Medicare Part B. It lasts for six months and is the best time to enroll in a Medicare Supplement Insurance (Medigap) plan. During this period, you have guaranteed issue rights, meaning insurance companies cannot deny you coverage or charge you higher premiums based on pre-existing conditions.
Can I use a photocopy of my passport or other citizenship documents?
In most cases, a photocopy of your passport or other citizenship documents is not acceptable for Medicare enrollment. It’s essential to provide the required original documents or certified copies when enrolling in Medicare to ensure the accurate processing of your application.
Conclusion
Medicare enrollment period takes place every year from October 15 to December 7. In these 7 weeks, it’s important that you evaluate your plan’s coverage and your healthcare and financial requirements. If you need assistance reviewing your coverage options, speak with our licensed broker to maximize your healthcare needs. Contact us today.