Most people think Medicare changes can only happen in the fall. The Annual Enrollment Period does end on December 7, but several other enrollment windows are open during the year, and many people qualify for one without knowing it.
The Jones Group helps with Medicare year-round. These are the situations that come up most often outside the fall season.
Turning 65 and still working
Whether you need Medicare right away depends mostly on the size of your employer. If the company has 20 or more employees, the group health plan pays first and Medicare pays second. In that case you can usually delay Part B without a penalty for as long as you have coverage through current employment.
If the company has fewer than 20 employees, Medicare pays first. Without Part B you could be left with large bills, so most people in that situation should enroll at 65.
Two details catch people out. COBRA and retiree coverage don’t count as coverage from current employment, so they don’t protect you from the Part B late penalty. And if you contribute to a Health Savings Account, plan to stop about six months before you apply for Medicare or Social Security.
Your Initial Enrollment Period
The Initial Enrollment Period is the seven months around your 65th birthday: the three months before your birthday month, the month itself, and the three months after. It’s the time to decide on Part A and Part B, and to choose between a Medicare Advantage plan and Original Medicare with a supplement and drug coverage.
Special Enrollment Periods
A Special Enrollment Period lets you enroll or change plans outside the usual windows after certain events.
If you retire or lose employer coverage, you have eight months to sign up for Part B. You have two full months after the month your coverage ends to join a Medicare Advantage or Part D plan.
If you move out of your plan’s service area, you can switch plans starting when you move and for two full months afterward.
If you qualify for Medicaid or for Extra Help with drug costs, you can change your drug coverage once a month.
What is a D-SNP?
D-SNP stands for Dual Eligible Special Needs Plan. These are Medicare Advantage plans for people who have both Medicare and Medicaid. Depending on eligibility, they can include benefits beyond Original Medicare, such as dental, vision, hearing and transportation.
One more year-round option in Connecticut
Connecticut law makes Medicare Supplement policies guaranteed issue all year. If you have Original Medicare and want to add or change a Medigap policy, you don’t need to wait for an enrollment period, and you can’t be turned down for health reasons.
We’re here outside enrollment season
If you’re turning 65, retiring, moving, or wondering whether a Special Enrollment Period applies to you, call The Jones Group at (860) 529-3788. We’ll go through your situation and the plans that fit it.
