As summer starts to wrap up and fall is upon us we wanted to highlight Medicare enrollment and the critical dates within the enrollment timeline. We have included a graphic we use during many of our client conversations that should provide you with some useful information. If you have questions regarding Medicare that we have not addressed in this post, please feel free to reach out to us and we will be happy to discuss and provide guidance as needed.
Medicare Enrollment Timeline
We often we receive questions about enrolling into Medicare, and making the transition from private health insurance to Medicare involves some important decisions. Making these decisions, and knowing when to do certain things along the way can be confusing and overwhelming. Our “Medicare Enrollment Timeline” is designed to help you better understand when to enroll for the various parts that make up your Medicare plan. If you click on the graphic below you can download a PDF version of this document.
A few key points to remember:
1. Medicare’s “Initial Enrollment Period” lasts for seven months, beginning three months before you turn age 65.
2. Be careful of delaying enrollment, which may result in a late fee with increased premiums and a gap in your health coverage.
3. Review your Medicare plan annually. You should expect to receive an “Annual Notice of Change” letter and you may be able to find opportunities for savings or better coverage options. You can make changes to your plan annually during the “Open Enrollment Period” (October 15th – December 7th).
If you have any questions regarding the Medicare Enrollment Timeline information in this post or other questions about Medicare, please feel free to reach out to us. We will be happy to discuss and provide further guidance.
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