Medicare can feel like a maze if you don’t know the deadlines.
Every year I meet people who thought they did everything right…except they missed a key enrollment window. And let me tell you, Medicare is not very forgiving when it comes to penalties for missed deadlines.
But if you know them, Medicare becomes much simpler. Let’s take a look at Medicare periods in plain English, so you can stay protected, avoid penalties, and keep your health care running smoothly.
Initial Enrollment Period (IEP): Your First Big Deadline
Your first chance to enroll in Medicare is the Initial Enrollment Period, which starts three months before you turn 65, includes your birthday month, and lasts three months after.
(If you’re counting, that’s a seven-month window.)
During this time, you can enroll in:
- Part A (hospital coverage)
- Part B (medical coverage)
- Part D (prescription coverage)
- A Medicare Advantage plan (Part C) if you want one
- A Medicare Supplement (Medigap), if you have Original Medicare
Why does this matter?
If you miss your IEP and don’t have coverage through your employer, you could face penalties for:
- Part B (medical)
- Part D (prescriptions)
Those penalties may seem small, but over your lifetime they add up to big money.
Special Enrollment Period (SEP): If You Have Employer Coverage
If you or your spouse work past age 65 and have credible employer insurance, you may qualify for a Special Enrollment Period.
This lets you delay Parts B and D without penalty.
Your SEP lasts 8 months after your employer coverage ends…but there’s a catch:
Not all employer plans count as credible coverage for Medicare Part D.
The details of your current coverage can be important to determine if it’s considered “credible”. A qualified Medicare advisor can help you avoid unnecessary penalties when it’s time to switch to Medicare.
Annual Enrollment Period (AEP): October 15 – December 7
This is the big one. Every fall, Medicare gives you a chance to review and change your coverage for the next year.
During AEP, you can
- Switch Medicare Advantage plans
- Change or add a Part D plan
- Move from Original Medicare to Medicare Advantage (or vice versa)
Many people think, “I like my plan, I’m fine.” But even good plans change every year. Drug tiers, doctor and hospital networks, premiums and copays, even extra benefits in Medicare Advantage plans can change.:
Medicare coverage isn’t something you do once and never think about again. Annual enrollment is a good opportunity to review your coverage with me and make sure everything still fits.
A five-minute review can save you hundreds or even thousands of dollars the next year.
Medicare Advantage Open Enrollment: January 1 – March 31
If you start the year with a Medicare Advantage plan and realize you don’t like it, you get a second chance. During this period you can:
- Switch to different Advantage plan, or
- Go back to Original Medicare and sign up for a Part D plan
Just remember…you only get to change once per year. Check with your Medicare Advisor to make sure changing plans is best for you.
General Enrollment Period (GEP): January 1 – March 31
If you missed your Initial Enrollment Period and don’t qualify for a Special Enrollment Period, you can still fix things. The GEP lets you sign up for Part B (and sometimes Part A).
Your coverage begins the month after you enroll, but penalties may apply.
Why Do These Deadlines Matter?
Medicare deadlines aren’t just dates; they ’re protection against:
- Loss of coverage
- Unnecessary financial penalties
- Lack of access to your preferred doctors or hospitals
- Increased prescription costs
You don’t have to be “stuck” with coverage that isn’t right for you. And that’s where I come in.
As a certified Medicare advisor, I can help you stay ahead of all of these important Medicare deadlines. Plus, I can help you make sure your coverage keeps up with all the changes life brings.
Medicare isn’t one-size-fits-all. That’s why I take the time to learn about your health needs, lifestyle, and budget before I help you sign up…so you get the coverage you need.
Before Medicare deadlines catch you unprepared, call me at (832) 773-7981 or use the form on my website (https://goodellhealthsolutions.com/) to schedule a free, no-obligation review with me.
Scott Goodell
Goodell Health Solutions
We Put the “I Care” in Medicare