When you turn 65, perhaps the most important thing you can do is sign up for Medicare, and you need to pay attention to when and how you do that. We’re here to help you navigate through the twists and turns.
There are three key enrollment periods for Medicare, and signing up at the right time ensures you avoid any potential penalties:
- The Initial enrollment period is a 7-month period beginning 3 months before the month you turn 65 and lasting 3 months after the month you turn 65. This is the proper and best time to sign up.
- In case you miss the initial enrollment period, there is a Special Enrollment Period after your Initial Enrollment Period ends. You may have a chance to sign up for Part A and Part B during this Special Enrollment Period, but only if you meet certain requirements.
- If you don’t sign up for Part A and/or Part B when you’re first eligible, and you don’t qualify for a Special Enrollment Period, you may have to wait until the Medicare General Enrollment Period (from January – March 31) to enroll and coverage will start July 1 of that year. In most cases, if you sign up during the General Enrollment Period, you’ll have to pay a late enrollment penalty for as long as you have Part B.
For an explanation of all the aspects and complications of Medicare go to medicare.gov/medicare-and-you, and download the booklet Medicare and You.
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