Navigating Medicare Enrollment Periods Made Simple

Medicare can feel like a lot to take in, right? But don’t worry—we’ve got you covered. Knowing when to sign up, switch, or make changes to your Medicare plan is key to staying protected. Here’s a quick breakdown of the most important Medicare enrollment periods to help you out!

1. Initial Enrollment Period (IEP)

This is your first chance to get enrolled in Medicare. It lasts for seven months: three months before your 65th birthday, the month of your birthday, and three months after.

• What Can You Do?: Sign up for Medicare Part A (hospital insurance) and/or Part B (medical insurance). You can also join a Medicare Advantage (Part C) plan or Part D for prescription drug coverage.

• Heads Up!: If you don’t sign up for Part B during this time, and you don’t have other health coverage, you might end up paying a penalty later.

2. General Enrollment Period (GEP)

If you missed your Initial Enrollment Period, don’t worry! You can still sign up between January 1 and March 31. Your coverage will start on July 1.

• What Can You Do?: You can sign up for Medicare Part A and/or Part B.

• Important!: If you waited too long to sign up and didn’t have other coverage, you may face a penalty.

3. Medicare Advantage Open Enrollment Period

Already enrolled in a Medicare Advantage (Part C) plan? From January 1 to March 31, you get a chance to make one change.

• What Can You Do?: Switch to a new Medicare Advantage plan, or drop your plan and go back to Original Medicare. If you switch back, you can also add a Part D prescription drug plan.

• Keep in Mind: You can’t use this time to switch from Original Medicare to a Medicare Advantage plan.

4. Annual Election Period (AEP)

This is the big one! Every year, from October 15 to December 7, you can review and adjust your plan.

• What Can You Do?: You can join, change, or drop a Medicare Advantage plan, or join, change, or drop a Part D prescription drug plan.

• Heads Up!: Changes made during AEP will take effect on January 1 of the next year.

5. Special Enrollment Periods (SEPs)

Life happens, and sometimes things change outside of the regular enrollment periods. Special Enrollment Periods let you make changes to your Medicare when certain events happen, like:

• Losing your job’s health insurance

• Moving to a new area where your plan isn’t available

• Qualifying for Medicaid or Extra Help

• What Can You Do?: Depending on your situation, you can sign up for or adjust your Medicare coverage.

6. 5-Star Special Enrollment Period

This one is a bit different! From December 8 to November 30, if there’s a 5-star Medicare Advantage or Part D plan available in your area, you can switch to it—once a year.

• What Can You Do?: You can join or switch to a 5-star plan, even if it’s not during a regular enrollment period.

Key Things to Keep in Mind

• If you miss an enrollment period, you could face late penalties or a gap in your coverage.

• Review your Medicare plan each year during the Annual Election Period to make sure it still fits your needs.

• If something changes in your life, like moving or losing coverage, reach out to Medicare or your insurance agent to see if you qualify for a Special Enrollment Period.

Need Help?

Medicare doesn’t have to be stressful. If you're feeling unsure about when to enroll or what changes to make, don’t hesitate to reach out. At Bass Insurance Solutions, we’re here to help you navigate the process and find the right plan for you. Contact us today!