If you don’t enroll in a Medigap policy within this time frame, you’ll likely face medical underwriting if you try to purchase one of these plans later. During this period, insurance companies can’t charge you higher premiums, delay, or deny coverage based on pre-existing health conditions. Your 6-month Medigap open enrollment period begins either on the first day of the month in which you are 65 or older and enrolled in Medicare Part B, or when your employer-provided group plan ends and you enroll in Part B. This is also the best time to buy a Medicare supplement plan, also called Medigap.

That figure rises to nearly 46% for people aged 70 to 79. In the U.S., research suggests that 25% of adults between 65 and 69 take more than 5 prescription medications every day. So even if you are not currently taking any prescription drugs, you might consider enrolling in the most affordable Part D plan now, within your IEP, to cover your bases in the likely event that you will begin taking prescriptions in the future. Remember that enrolling in a Part D plan after your initial enrollment period may result in permanent late enrollment penalties. Most people enrolled in traditional Medicare choose to buy some kind of extra coverage. This is also an excellent time to enroll in a Part D or Medicare supplement (Medigap) plan. If at this point you haven’t yet enrolled in Medicare, you should do so now to minimize any delays in your coverage. Your 65th birthday month (Happy birthday!) Get the coverage you need If you wait until after your birthday, your coverage will be delayed by 1 to 3 months, depending on how long you wait. If you enroll in these first 3 months, your coverage typically begins during your birth month. This initial enrollment period will begin 3 months prior to the first day of your birthday month and end 3 months after. If you are not automatically enrolled, and you are no longer covered by an employer-based health plan, you should sign up for Medicare within your 7-month initial enrollment period. If you are already receiving Social Security benefits, you will be automatically enrolled in Medicare Parts A and B. If your medications are covered, are they in an affordable pricing tier for you?Īre your doctors and specialists in the health plan’s network?ģ months before turning 65 Sign up for original Medicare Here are some of the most important considerations you’ll want to prioritize in your research:Īre all (or most) of your prescription drugs covered? Starting your search for the right plan now will give you plenty of time to compare your options, including Medicare Advantage plans, stand-alone Part D prescription drug plans, and Medicare Supplement (Medigap) plans.

Your initial enrollment period (IEP) will begin 3 months prior to your 65th birthday. 6 months before turning 65 Begin researching plans available in your area You’ll want to find out sooner rather than later, in case you need to find a new healthcare provider. However, some specialists - like dermatologists and gynecologists - may prefer to treat patients on a private-pay basis.

The overwhelming majority of doctors do accept original Medicare, and it is rare for doctors to “opt out” of Medicare. If you have doctors or specialists that you see on a regular basis, you should confirm that these providers accept Medicare. Ensure that your current doctors accept Medicare Most people pay the standard Part B premium ($148.50 in 2021), but those who earn more pay more. Your premium for Medicare Part B (medical insurance), however, will vary based on your total years worked as well as your income.

Typically, if you or your spouse has worked and paid taxes for at least 10 years, you will be eligible for premium-free Medicare Part A (hospital insurance). 7 months-1 year before turning 65 Find out if you qualify for Medicare, and how much you will have to pay for it each month There are several strict deadlines within the Medicare program, and missing them could subject you to permanent penalties.Īs you begin your countdown to 65, you can use this Medicare enrollment timeline as a guide, printing it out and filling in personal details as you wish. Unless you’re already receiving Social Security benefits when you turn 65, you won’t be automatically signed up. If you’re approaching your 65th birthday, you might be wondering how you need to prepare to enroll in Medicare.

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