Medicare is consistent in its timing, so you will be able to predict when your coverage begins. There are specified waiting periods for those with disabilities other than ALS (Lou Gehrig’s disease). Depending on when you sign up, your coverage will take between one and three months before it takes effect.
Initial Enrollment
Seniors approaching their 65th birthday should be thinking about Medicare. Your Initial Enrollment Period lasts for seven months, beginning three months before the month of your 65th birthday. Signing up for Medicare during this time means that you will avoid financial penalties which could affect the affordability of your policy for decades.
Signing up for Medicare during the three months prior to your birthday is your opportunity to receive coverage during the month of your birthday, or the month before if your birthday falls on the first day of the month.
If you sign up during the month of your birthday, your coverage will begin on the first day of the following month. Sign up during the month after your birthday, and your coverage will be delayed two months from when you sign up. In both the second and third months following your birthday, signing up will lead to coverage beginning three months after the month you enrolled.
Coverage Changes after Enrollment
Changes made during the General Enrollment/Medicare Advantage Open Enrollment period from January 1 to March 31 will take effect on July 1. General Enrollment is intended for those who did not sign up during their Initial Enrollment Period. They will face late enrollment penalties added to their monthly premiums for Part B and Part D. Medicare Advantage Open Enrollment is for people who are already enrolled in a Medicare Advantage plan to make changes to their coverage. During this time, they can switch to a different Medicare Advantage plan or return to Original Medicare and choose to add a prescription drug plan for continuous coverage.
Changes made during the Annual Election Period from October 15 to December 7 will take effect on January 1. During this time, people can switch from Original Medicare to a Medicare Advantage plan or make other changes to their plan.
Waiting Periods
Those who qualify for Medicare due to a disability have to wait through two years of receiving disability benefits from Social Security or the Railroad Retirement Board before they can begin receiving coverage. These people are automatically enrolled in Medicare, with coverage beginning in the 25th month of receiving disability benefits (commonly in the form of Social Security Disability Insurance).
People with End-Stage Renal Disease have to wait four months from the beginning of their regular course of dialysis treatments before they begin receiving Medicare coverage. These people are not automatically enrolled but are encouraged to sign up for Medicare to benefit from outpatient dialysis treatment coverage, which extends out of state. If the patient chooses to go through home dialysis training from a Medicare-certified training facility during the first three months of their regular course of dialysis, they can begin receiving Medicare benefits in the first month of dialysis.
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We’re here to guide you through the process and answer any questions you have. If you’re looking for skilled advice, call us at (877) 874-0711.