The Initial Enrollment Period (IEP) for Medicare is essential to starting your Medicare coverage on the right foot. Whether or not you plan to retire at 65, it’s important to know about your IEP to set yourself up for success in the future.

Here are 5 things to know about the Medicare Initial Enrollment Period:

1. IEP is your ideal time to enroll in Medicare Parts A, B, and D. 

The Initial Enrollment Period (IEP) is a crucial time for individuals who are eligible for Medicare to enroll in Medicare Parts A, B, and D. It is the period when you can sign up for Medicare without having to worry about late enrollment penalties. Medicare Part A covers hospital insurance, Medicare Part B covers medical insurance, including doctor visits, outpatient care, and some preventive services. Medicare Part D covers prescription drug coverage. Enrolling during your IEP ensures you have continuous coverage and avoid potential gaps in your Medicare benefits. When your IEP begins, you are also eligible for Initial Coverage Election Period (ICEP) for Medicare Part C or Medicare Advantage.

2. Your IEP is 7 months long, with some exceptions

IEP begins three months before your 65th birthday month and ends three months after — for a total of seven months including your birth month. However, individuals receiving disability benefits from Social Security for 24 months are automatically enrolled in Medicare. The enrollment period starts three months prior to the 25th month of disability payments, encompasses the 25th month itself, and concludes three months after.

There are some instances when someone can be eligible for Medicare benefits before age 65. If you receive disability benefits from Social Security or the Railroad Retirement Board (RRB), you will automatically be enrolled in Medicare, regardless of age. If you are diagnosed with ALS (Lou Gehrig’s Disease), you’ll automatically be enrolled in Medicare when your disability benefits start. If you are diagnosed with End-Stage Renal Disease (ESRD) that requires regular dialysis or a kidney transplant, you are also eligible for Medicare regardless of age.

3. If you’re not already receiving Social Security or Retirement Railroad Benefits, you can sign up for Medicare Parts A and B 

If you are receiving those benefits, you’re automatically enrolled. Most people get Part A without a monthly premium but have to pay for Part B. Part B enrollment can be delayed but you may have to pay a penalty for delaying enrollment. 

4. Even if you don’t plan to retire at age 65, you can still sign up for Medicare Parts A and B during your IEP 

By enrolling during your IEP, you can avoid penalties and underwriting. Once you retire, you can switch to a Medicare Advantage plan with more complete coverage after retirement, like dental, vision, hearing, critical illness, and much more. 

5. You can delay your Part B coverage if you are not yet retired and under group coverage (or your spouse’s or disabled family member’s) 

Delaying enrollment can result in late enrollment penalties, which could increase your monthly Medicare premiums. You may want to do this if you’re already covered under insurance through an employer and want to avoid paying the Part B premium. Once you stop working, you may be eligible for a Special Enrollment Period (SEP) where you can enroll in Part B. 

Getting started with your Medicare coverage can feel overwhelming. But SmartMatch is here to help! We have resources online and over-the-phone to help you feel confident in your Medicare coverage. If you’re approaching 65, mark your calendars now so you don’t miss your IEP!

Disclaimer:

The information provided in this blog post is intended for general informational purposes only and does not constitute medical advice. It is not a substitute for professional medical consultation or treatment. Always consult with a qualified healthcare provider for any questions you may have regarding a medical condition.