Medicare Enrollment Period

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Its okay, Medicare Enrollment periods are confusing for most people. Be informed and be aware, missing an enrollment in medicare can cost you. Medicare should warn enrollees on steep late sign-up penalties. Roughly 776,200 Medicare beneficiaries paid late enrollment penalties in 2020, according to the Congressional Research Service (CRS). That is less than 2 percent of enrollees, but for those who do pay the penalties, the bite is painful. On average, total premiums for late enrollees were 27 percent higher, as reported by CRS.

here are also Medicare beneficiaries also lacked creditable prescription drug coverage, making them potentially liable for a premium penalty when they later do enroll in a Part D Drug Plan. Millions of people could pay monthly penalties for as long as they have Medicare coverage.

Check the links below to get a look at the different Medicare enrollment periods and beyond that you should be aware. You don’t want to paying more than you should for the coverage you need.

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What is the Medicare Initial Enrollment Period?

Your Initial Enrollment Period (IEP) for Medicare Parts A, B and D last 7 months. You should sign up for Medicare three months before reaching age 65, even if you are not ready to start receiving retirement benefits. You can also opt out of receiving cash retirement benefits now once you are in the online application. Then you can apply online for retirement benefits later.

Your Initial Enrollment Period (IEP) begins 3 months before your 65th birthday month and runs for 3 months after your birth month.

Initial Enrollment Period

If You Join	Your Coverage Begins
During one of the 3 months before you turn 65	The first day of the month you turn 65
During the month you turn 65	The first day of the month after you ask to join the plan
During one of the 3 months after you turn 65	The first day of the month after you ask to join the plan

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As you age into Medicare, your Medicare Initial Enrollment Period is probably the most important date for you to know.

During the IEP, you can enroll in Original Medicare (Part A and Part B) or a Medicare Advantage plan (Medicare Part C). Enrolling during your IEP avoids any late enrollment penalty.

You can also avoid late penalties for Part D by enrolling drug coverage during this same window. That drug coverage can be a standalone plan or part of a Medicare Advantage plan that includes Part D.

If you enroll in Original Medicare, you may want additional coverage with a Medicare Supplement Plan (Medigap). For this, you will use your Medicare Supplement Open Enrollment Period. This is a 6-month window starting on your Part B effective date. Using the Medicare Supplement OEP to enroll means:
You can’t be turned down for any Medigap plan available in your area regardless of your health status.
Your insurance company cannot charge you higher premiums because of your health status or pre-existing conditions.
Your coverage for any pre-existing conditions cannot be delayed.

What happens if I miss my Initial Medicare Enrollment Period?

There are unpleasant and costly consequences if you don’t sign up for coverage during your Initial Enrollment Period (IEP).

PART A: If you don’t meet the necessary qualifications and have to pay for Part A—the standard monthly 2025 premiums are $518 if you paid Medicare taxes for 29 quarters or less, and $285 if you paid Medicare taxes for 30 to 39 quarters—you may be assessed a 10% late enrollment penalty if you don’t sign up when you first become eligible.

As an example, if your premium is $518 and you waited a year to sign up, your new premium amount would be $569.80

Base Premium ($518) X 10 Percent (.10) = Late Enrollment Penalty ($51.80)

Base Premium ($518) + Late Enrollment Penalty ($51.80) = New Premium Amount($569.80)

PART B: If you don’t sign up for Part B when you’re first eligible, you will be assessed a late enrollment penalty “in most cases,” according to Medicare.gov. This penalty is 10% for each 12-month period you were eligible for Part B benefits but did not receive them because you never enrolled.

For example, the standard premium for Part B in 2025 will be $185.00. Therefore, if you were eligible for Part B in January 2024 but didn’t sign up until January 2025, you went full 12-month time period without this coverage. This means that your premiums would be increased by 10%—a total of $203.50 per month.

Standard Premium ($185.00) X 10% (.10 representing the number of 12-month periods without coverage) = Late Enrollment Penalty ($18.50)

Standard Premium ($185.00) + Late Enrollment Penalty ($18.50) = Your Premium ($203.50)

You can enroll in Medicare Part B at any time that you are still covered by a group plan based on current employment. After your employer health coverage ends or your employment ends (whichever comes first), you have an eight-month special enrollment period to sign up for Part B without a late penalty.

Keep in mind that retiree coverage and COBRA are not considered health coverage based on current employment and would not qualify you for a special enrollment period. If you have COBRA after your employer coverage ends, you should not wait until your COBRA coverage ends to sign up for Medicare Part B. Your eight-month Part B special enrollment period begins immediately after your current employment or group plan ends (whichever comes first). This is regardless of whether you get COBRA

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Creditable Coverage

To be eligible for Part C, you must first be enrolled in both Medicare Parts A and B. You must also live in the plan’s service area. In most cases you’re not eligible if you have end-stage renal disease (although there are exceptions, and some Special Needs Plans may accept you).

Many people think that if they enroll in a Medicare Advantage plan, they can drop their Part B and escape paying Part B premiums. This is NOT the case. You must have both A and B to even be eligible to enroll in either a Medicare Advantage plan or Medicare Supplement plan. You must continue to be enrolled in Parts A and B during the entire time that you are enrolled in a Medicare Advantage plan.

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When is the Medicare General Enrollment Period?

Eligibility for Medicare Part D is not open to everyone as long as you are actively enrolled in either Part A and/or B. You must also live in the Part D plans’ service area. Even though Medicare Part D is voluntary, we strongly recommend it if you have no other drug coverage. Part D provides your insurance against future catastrophic medication costs. It will also help give you lower copays on medications you take now.