When do I need to enroll in Medicare?
When you turn 65 or when you first become eligible for Medicare. You will be able to enroll 3 months before your 65th birthday, the month of your birthday or three months after.
When is the Initial Enrollment Period (IEP)?
The first time you can enroll is called your Initial Enrollment Period (IEP), which is a 7-month time frame. It begins 3 months before the month you turn 65, includes the month you turn 65, and ends 3 months after the month you turn 65. For example, if your 65th birthday were in the month…
When is the General Enrollment Period (GEP)?
The General Enrollment Period (GEP) is for Medicare-eligible individuals who did not sign up during their Initial Enrollment Period (IEP) which is based on birthdate. The General Enrollment Period is from January 1 – March 31st every year. Your coverage starts the month after you sign up. Unfortunately, most individuals who miss the IEP, who…
What is an MA-PD?
An MA-PD is simply a Medicare Advantage Plan that includes a Part D (Prescription Drug Plan). There are many Medicare Advantage plans available to choose from – some with and some without a Part D plan included. If a Part D is included, you may hear them referred to as MA-PDs.
What is the difference between Medicare and Medicaid?
Medicare and Medicaid are both government health insurance programs. Medicare is a federally funded program primarily for adults 65 and over. Medicaid is a state-funded program for low-income individuals and families. It’s possible to be eligible for both Medicare and Medicaid, (known as “dual eligibility”) and they will work together to provide coverage at a…
What is “Original Medicare”?
Medicare Part A and Medicare Part B are often referred to as “Original Medicare.” This government health coverage program is a fee-for-service plan, meaning you usually pay a fee for each service. Medicare will pay an approved amount up to a certain limit, and you will pay the rest. The alternative to Original Medicare is…
What is a Medicare Medical Savings Account (MSA) Plan?
Private insurance companies can offer a consumer-directed Medicare Advantage Plan, called an MSA Plan. These plans combine a high-deductible insurance plan with a medical savings account that you can use to pay for your health care costs. With these plans, you can generally choose your health care services and providers.
What is a Special Enrollment Period (SEP)?
A Special Enrollment Period (SEP) allows you to enroll in Medicare plans outside of your Initial Enrollment Period (IEP) and the General Enrollment Period (GEP).
When is the Medigap Open Enrollment Period?
The Medigap Open Enrollment Period is a one-time 6-month period. This time frame begins the first month of your Medicare Part B coverage, and you’re 65 or older. Some states may have additional Open Enrollment rights under state law. If you apply for a Medigap plan during this time, you are guaranteed acceptance and the…
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.