Medicare’s Initial Enrollment Period

The Initial Enrollment Period and its benefits

Medicare has established a designated time, deemed the “Initial Enrollment Period,” in which beneficiaries should enroll. This period begins three months before their 65th birthday and extends to three months after their birthday, totaling seven months. During this time, you can enroll in all Medicare services without paying late fees. Because of this, it’s best to sign up during your Initial Enrollment Period to avoid any delays in coverage.

If signing up for Plan B, it’s best to do so in the three months prior to your 65th birthday. Enrolling after your birthday to enroll could result in a wait time to receive your coverage.

Late fees

If you decide to wait until after your Initial Enrollment Period to enroll in Medicare or have enrolled but would like to add additional services to your plan, you will most likely pay late fees. Some of these fees are an added percentage of your plan, while others are a standard amount that is added. Either way, these extra charges will continue to be added each month throughout your Medicare usage.

Medicare Supplement Enrollment

Medicare Supplement Insurance provides the coverage your Medicare policy doesn’t. This type of insurance must be individually enrolled in and can change on a personal basis. For many, the Initial Enrollment Period is the only time when Medicare Supplements can be included in their plan.

Enrollment exceptions

Certain enrollment exceptions are made for those receiving insurance through an employer or their spouse’s work. If this is the case, Medicare does not expect you to enroll during your Initial Enrollment Period. Instead, you will be given a Special Enrollment Period. Reach out to The Fussell Group Insurance Advisors today for more information.