Medicare – When Do I Enroll?

The time to enroll in Medicare Parts A & B is between the 3 months before and after your 65th birthday. This is called your Initial Enrollment Period (IEP). It’s important not to miss this enrollment window because there is a PERMANENT penalty that increases each year you delay enrolling.

There is, of course, an exception.

You have an 8 month Special Enrollment Period if you or your spouse is working and covered by a group health plan through the employer or union. Your Special Enroll Period starts at one of these times (whichever happens first):

  • The month after the employment ends
  • The month after group health plan insurance based on current employment ends

Once you are enrolled in Medicare Parts A & B, it’s time to start researching what kind of Medigap Plan (Medicare Supplemental Plan) and Prescription Plan (Medicare Part D) to get.

*edited*

Even though it might be another 30 years or so before any of us millennials need to enroll in Medicare, we probably have parents/aunts/uncles that will be enrolling soon. So pass this information along because 90% of people get their enrollment period wrong and end up paying a lot of extra money for unnecessary coverage or worse, ongoing penalty fees.

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