Medicare
What is the Medicare Enrollment Period?
Your eligibility starts 3 months before your 65th birthday, the month of your birthday and 3 months after your birthday. If you miss this enrollment period and do not have any other "credible" coverage, you may have to pay a penalty and have a gap in your coverage.
Your eligibility starts 3 months before your 65th birthday, the month of your birthday and 3 months after your birthday. If you miss this enrollment period and do not have any other "credible" coverage, you may have to pay a penalty and have a gap in your coverage.
Example
My birthday is June 15th.
My medicare coverage would be effective June 1st. March is the earliest I can contact social security to enroll in Medicare for June 1st.
I can apply in March, or April or May for June 1st.
If I waited until June or July, I could still apply and depending on when they get the application, would be the effective date.
I would have until September to apply and still be considered within my enrollment period, avoiding any penalties.
What if I have employer coverage?
If you have employer coverage or coverage through a spouse with a company of more than 20 employees, you can keep that coverage and not incur a penalty. When you lose coverage, by retiring you will be given a special election period.
If you have employer coverage or coverage through a spouse with a company of more than 20 employees, you can keep that coverage and not incur a penalty. When you lose coverage, by retiring you will be given a special election period.
What if I miss my initial enrollment period?
If you do not have any other coverage and miss your 7 month window, you have from January 1-March 31 to enroll in Medicare. Your effective date would be the following July 1st
If you do not have any other coverage and miss your 7 month window, you have from January 1-March 31 to enroll in Medicare. Your effective date would be the following July 1st
Is Medicare Automatic
If you are currently receiving social security benefits, you will be automatically enrolled in Medicare Parts A and B beginning the 1st of the month you turn 65. Everyone else will have to apply through the Social Security Administration. You will never get a call to enroll.
If you are currently receiving social security benefits, you will be automatically enrolled in Medicare Parts A and B beginning the 1st of the month you turn 65. Everyone else will have to apply through the Social Security Administration. You will never get a call to enroll.
Learn More About The Products & Services We Provide: |
|
