The Medicare General Enrollment Period is a time when newcomers can join Medicare for the first time. However, this enrollment period comes once every year and there are some factors to be aware of before joining.
When Is The General Enrollment Period?
The General Enrollment Period lasts from January 1 to March 31 each year.
Who Should Use This Enrollment Period?
This enrollment period is for those who missed the Initial Enrollment Period. The Initial Enrollment Period is a one-time opportunity to join Medicare without facing late enrollment fees, and allows for individuals to get Part A with a $0 premium. It begins three months before you turn 65, and ends three months after the month of your 65th birthday.
If you have to enroll during the General Enrollment Period, you will most likely have to pay late enrollment penalties for missing your Initial Enrollment Period.
What Can I Do During The General Enrollment Period?
The General Enrollment Period gives you the opportunity to join Medicare Part A and/or Medicare Part B. These two together are known as Original Medicare.
It’s highly encouraged to join both to get the most out of your Medicare coverage. Part A covers your inpatient costs, such as surgeries and hospital stays. Part B covers outpatient expenses, which include ambulance services, preventive treatments, and medical equipment.
Part A and B are also required if you want to join other types of Medicare plans, such as Medicare Advantage, Part D, and Medicare Supplement Plans.
What Are The Limits?
You cannot get Medicare drug coverage (Part D) or Medicare Advantage during this period. You will need to wait until the Special Enrollment Period, which is April 1 to June 30, if you want to join these plans.
Medicare Supplement Plans (also known as Medigap) allow for enrollment directly after you join Original Medicare, but the time window for joining it is technically a separate enrollment period. This is the Medigap Open Enrollment Period, and it lasts for six months following the time you joined Original Medicare. If you miss the Medigap Open Enrollment Period, you may not be able to acquire a Medigap plan.
We’ll Help You Enroll In Medicare
At Eldridge Agency, we take the stress out of getting Medicare for the first time. When you call us, we’ll take you through the steps for getting Medicare, as well as provide you with information about how this policy can suit your specific needs. Call us today at (775) 328-1197 to get a head start on the upcoming General Enrollment Period.
