When is the Annual Election Period (AEP)?
The Annual Election Period (AEP) is from October 15th – December 7th every year. Changes to Medicare plans made during this time will take effect on January 1st of the following year. For example, changes made in November of 2019 will take place January 1st of 2020.
When is the Medicare Advantage Open Enrollment (OEP)?
The Medicare Advantage Open Enrollment (OEP) takes place every year from January 1st – March 31st. Changes to Medicare plans made during this time will take effect the 1st of the following month of applying. For example, changes made in March will be effective April 1st. *The new OEP is replacing the Medicare Advantage Disenrollment…
Do I need Medicare if I am still working?
Even if you already have creditable coverage, you may need to sign up for Medicare. It depends on the number of employees your employer has in the company.
Do I need to enroll in Medicare if I have retiree health insurance?
Employers are not required to provide retiree coverage. Therefore, the benefits, premiums and coverage can be changed or canceled. To get full benefits for retiree health insurance, you may have to enroll in Medicare Parts A and B.
Can I delay my Part B enrollment without a financial penalty?
If you have creditable health insurance coverage as good as Medicare; yes, you can delay your Part B. If you don’t enroll when you’re first eligible for Part B, you can delay Part B enrollment and sign up for Part B later without paying a late enrollment penalty.
When can I add Part B to my Part A Medicare?
IEP: If you apply for Part B during “Initial Enrollment Period or Open Enrollment Period”, you won’t have to pay a late enrollment penalty. GEP: If you apply for Part B during the “General Enrollment Period”, the coverage will be effective July 1st. If you delay your Part B and do not have creditable health…
Do I need Medicare if I have insurance through my employer?
Depending on the size of the employer, you may be able to delay Parts A and B without having to pay a penalty if you enroll later.