Enrolling In Medicare?
When is My Medicare Initial Enrollment Period?
Your first opportunity to sign up for Medicare is called your IEP (Initial Enrollment Period). This time frame is three months before your birth month, your birth month, and three months after.
6 Months Before Turning 65
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Learn the parts of Medicare. Decide if you will enroll in Part A and/or Part B or stay on employer plan past 65 and delay Part B.
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Learn your options of Medicare-Medigap vs. Medicare Advantage Plan.
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Understand your premium cost: Part B, plan premiums, and drug cost.
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Establish a relationship with a Medicare Insurance Specialist as your guide on Medicare.
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Setup a "My Social Security" account on ssa.gov through login.gov.
3 Months Before Turning 65
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Enroll in Medicare Part A and B, or delay Part B if you are still working and covered under your employers group health insurance that has 20 or more employees.
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If your employer has 20 or less employees, ask the employer if you need to sign up for Part A and Part B when you turn 65. If you don’t sign up for Part A and Part B, your job-based insurance might not cover the costs for services you get.
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Check the status of your Medicare ID on your "My Social Security" Account.
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Meet with your Medicare Agent/Consultant and enroll in your Part D, Medicare Supplement or Medicare Advantage (if you have your Medicare ID).
1 Month Before Turning 65
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Cancel your old insurance plan, if needed. Make sure your have your Medicare Card and insurance plan cards.
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What If I Missed My Initial Enrollment Period?
If you miss your 7-month Initial Enrollment Period, you may have to wait to sign up and pay a monthly late enrollment penalty for as long as you have Part B coverage.
What If I Work Past 65?
If you decided to keep your employer's health insurance coverage you will not be penalized for not signing up for Medicare. Remember to enroll in Medicare Part A and B, or delay Part B if you are still working under your employers group health insurance that has 20 or more employees. If your employer has 20 or less employees, ask the employer if you need to sign up for Part A and Part B when you turn 65. If you don’t sign up for Part A and Part B, your job-based insurance might not cover the costs for services you get.
What If I'm Ending My Employer Insurance or Retiring?
If you have decided to retire or no longer have employer coverage once you have turned 65, you will be able to sign up for Medicare during a Special Enrollment Period. You will have eight months that begins after you or your spouse quits working or the month your group coverage ends, whichever comes first. COBRA or any other coverage is not credible.
If you are 65 or older and ending your employer insurance and also have Part A, you will need to complete the CMS-L564 form. You can apply for Medicare Part B by completing the CMS-40B form online and uploading both forms. You can also mail, fax, or physically drop off both forms to your local social security office.
What If I Enroll During The Special Enrollment Period?
If you move outside of your plan’s service area you would be eligible for a two-month enrollment period in which you could switch to a new Medicare Advantage or Part D prescription drug plan. There are several other scenarios that would trigger special enrollment periods. Click the link below if you would like one of us to see if you qualify for a special enrollment period.
Healthy, Informed, and Prepared!
Ready To Get HIP?
If you are new to Medicare or already enrolled in Medicare and want to learn more about your coverage, then we’re here to help you stay healthy, informed, and prepared. Feel free to give us a call or click the link below today, and we will find a time to talk about your specific coverage and the ways you can use it.
Our Mission
At The HIP Insurance Crew, LLC, each of our clients is unique. We don’t believe in an “one-size-fits-all” approach to offering insurance. We provide individual solutions for each of our clients and serve as advocates should you need one.
