Understanding Medicare Enrollment
There are certain times of the year when you can sign up or change your Medicare coverage. These windows are called enrollment periods, and they can be confusing.
However, you should know when they are so you can get the most from your Medicare, avoid late enrollment penalties, and feel confident in your decisions. When you need guidance, Lacayo Group Insurance is here to help.
Initial Enrollment Period
When you’re signing up for the first time, you have a seven-month period called your Initial Enrollment Period (IEP) — which is the best time to enroll in Part A and Part B. Your IEP begins three months before your 65th birthday, includes your birth month, and ends the three months after. But there are some exceptions.
If you’re already getting Social Security benefits, you’ll be automatically enrolled in Parts A and B. If you decide not to enroll in Part B when you’re first eligible, you may have to pay a late-enrollment penalty.