Do you know when to sign up for Medicare? Enrolling in Medicare is tricky if you don’t know when you’re eligible. In this article, we’ll cover the time periods you need to know and how to get covered when it’s your time.
What is the Initial Enrollment Period for Medicare?
The Medicare Initial Enrollment Period (IEP) is your seven-month window to apply for Medicare and enroll in a Medicare plan. The period starts three months before the month of your 65th birthday and ends three months after. (For example, if your birthday falls on June 10, your IEP would start on March 1 and end on Sept. 30.) Choosing your Medicare plan during the IEP is your best way to avoid late-enrollment penalties.
Does Medicare coverage start the month you turn 65?
If you need coverage the month you turn 65, you’ll need to sign up for Medicare in the 3-month window before your birthday month.
Parts of Medicare you can sign up for during IEP
During your seven-month Medicare Initial Enrollment Period window, you can enroll in Original Medicare (Parts A and B) which includes coverage for inpatient hospital, skilled nursing facility and long-term hospital care, as well as coverage for medical services.
Common Medicare plans people enroll in during IEP
If Original Medicare doesn’t cover all of your health care needs, IEP is also your opportunity to enroll in a plan from a private insurer that offers additional coverage. The most common types of plans are:
Medicare Advantage plans (Medicare Part C)
Medicare Advantage plans combine Parts A and B into one simple plan. They also often bundle in Part D and extras like dental, travel and fitness benefits.
Medicare Cost plans
In counties where Medicare Advantage plans are limited, you may have the option to enroll in a Medicare Cost plan. Like Medicare Advantage plans, Medicare Cost plans work alongside Original Medicare to provide additional benefits.
Medicare Supplement (Medigap) plans
Also known as Medigap, Medicare Supplement plans help bridge the gaps between what Original Medicare provides and what you may need.
Medicare Part D: Prescription drug coverage
Since Original Medicare does not cover prescription drugs, signing up for a Part D plan during IEP is a good idea to ensure your medications are covered right away.
With so many options to consider, take a look at our 10 things to do before you enroll in a Medicare plan for a simple guide to help you make the best decision for your needs.
What if I change my mind after I enroll?
If you aren’t happy with your Medicare plan, you’ll likely be able to make changes during the Medicare Annual Enrollment Period. This only applies if you have a Medicare Advantage, Cost or Part D plan.
What happens if I miss my IEP?
If you don’t enroll in Medicare when you’re first eligible, you can still sign up later, but you may end up paying a late penalty for Medicare Part B and/or D. Here are your other enrollment options:
- There is a Medicare General Enrollment Period (GEP), from Jan. 1 – March 31 every year.
- There is a Special Enrollment Period, but there are restrictions and you must qualify to be eligible.
For more specific insights, check out our article about all Medicare enrollment periods.
Am I automatically signed up for Medicare when I turn 65?
The short answer is “no,” unless you are already receiving Social Security or Railroad Retirement Board benefits. If you’re already receiving those benefits, you’ll receive your Medicare card in the mail before your 65th birthday.
Otherwise, you’ll have to sign up for Medicare on your own and you may or may not be notified about your eligibility. That’s why it is even more important to know your Initial Enrollment Period (IEP) dates so you are ready to enroll when it’s your time.
Is Medicare mandatory when I turn 65?
Technically no, but once you enroll in Social Security, you are required to sign up for Medicare Part A. However, Medicare Parts B, C and D are optional and can be delayed if you have other creditable coverage.
Delaying Medicare coverage without penalty
You can delay your Medicare Part B (medical coverage) enrollment without penalty, if you have health insurance through a current job or are a dependent on your spouse’s active plan. Once the spouse with employer coverage stops working – whether it’s you or your partner – you have eight months to sign up for Part B.