Medicare Enrollment
What if I do not Sign Up for Medicare Part D when I Turn 65?
Medicare Part D is optional but can help cover your prescription drugs. There are certain times when you can sign up for it. If you delay signing up for Medicare Part D coverage at the Medicare age 65, you may be faced with a late enrollment penalty.
Should I Apply for Medicare or Keep My Employer’s Health Plan?
You will probably want to consider what additional benefits, if any, your employer coverage includes, beyond coverage for doctor visits and hospital stays. For example, does it include routine dental, vision, and/or prescription drug coverage? You generally don’t get these benefits under Medicare Part A and Part B. Part A and Part B have limited coverage for prescription drugs, but generally don’t cover medications you take at home.
Also consider whether your cost for employer coverage includes coverage for your spouse. If it does, you’ll want to factor in the cost for your spouse to get coverage elsewhere before you decide to drop your employer coverage for Medicare. Medicare coverage is for individuals, not married couples or families.
On the other hand, you may be able to get the benefits listed above – routine dental care and prescription drug coverage, for example – through a Medicare Advantage plan.
How Often Can I Change Medicare Plans?
If you want to change Medicare Advantage or Medicare Part D Prescription Drug Plans , the best time to do so is during the Annual Election Period (also called Open Enrollment Period for Medicare Advantage and Medicare prescription drug coverage), which runs from October 15 to December 7 each year. During that period, you can:
• Change from Original Medicare, Part A and Part B, to a Medicare Advantage plan.
• Change from a Medicare Advantage plan back to Original Medicare, Part A and Part B.
• Switch from one Medicare Advantage plan to another.
• Switch from a Medicare Advantage plan that doesn’t offer drug coverage to a Medicare Advantage plan that does.
• Switch from a Medicare Advantage plan that offers drug coverage to a Medicare Advantage plan that doesn’t.
• Switch from one Medicare Prescription Drug Plan (Part D) to another.
When you change Medicare plans during the Annual Election Period, your new coverage begins on January 1 of the following year.
How Much Is the Medicare Late-Enrollment Penalty?
The Medicare program may charge a late-enrollment penalty if you do not enroll in certain Medicare programs or plans when you’re first eligible. Delaying enrollment could increase your out-of-pocket costs for your coverage. There are late-enrollment penalties for Medicare Part A, Medicare Part B, and Medicare Part D plans.
It is important to understand the period when you are first eligible for Medicare. This period is called your Medicare Initial Enrollment Period (IEP), and if you qualify for Medicare by age, it starts three months before you turn 65, includes the month you turn 65, and ends three months later. It lasts for a total of seven months.
Can I Drop Medicare Part B Coverage and Add It Later If I Have Employer Group Health Insurance?
You are not required to have Medicare Part B coverage if you have employer coverage. You can drop Medicare Part B coverage and re-enroll in it when you need it.
If you drop Part B coverage while covered by an employer’s plan, you can sign up for Part B again during your Special Enrollment Period (SEP). You can enroll in Part B anytime that you are working (or your spouse is working) and covered by the employer – or union-based health insurance plan.
Your SEP extends for eight months after you or your spouse stop working, or the group coverage based on current employment ends, whichever occurs first.
When Can I Add Part B to My Medicare?
The Initial Enrollment Period (IEP) for Part B, when you’re first eligible for Medicare. Your IEP typically starts 3 months before you turn age 65, includes your birth month, and lasts for 3 months after your birth month. That’s a total of 7 months.If you’re under 65 and disabled, you generally qualify for Medicare after receiving Social Security (or certain disability benefits from the Railroad Retirement Board) for 24 months. In this case, your 7-month IEP goes from the start of your 22nd month until the end of your 28th month of receiving disability benefits.If you sign up for Medicare Part B during your IEP, you won’t face a Part B late-enrollment penalty.
The General Enrollment Period (GEP), which runs from January 1 to March 31 of each year. You may enroll in Medicare Part B coverage if you are eligible. If you enroll in Part B during a GEP, it will be effective July 1 of the year in which you apply. You may have to pay a late-enrollment penalty. Your Part B premium may go up 10 percent for each 12-month period that you could have had Medicare Part B but did not sign up if you didn’t take Medicare Part B when you were first eligible because you or your spouse were working and had group health plan coverage through your employer or union, you can add Medicare Part B coverage during a Special Enrollment Period (SEP). You can sign up during the following periods under the Part B SEP:
While you’re still covered by the employer or union group health plan
During the 8 months following the month the employer or union group health plan coverage ends, or when the employment ends — whichever is first.
To add Medicare Part B, contact the Social Security Administration at 1-800-772-1213 (TTY users 1-800-325-0778), 7AM-7PM, Monday to Friday. For additional information, contact Medicare at 1-800-MEDICARE (TTY users 1-877-486-2048), 24 hours a day, 7 days a week.