Why Is Knowing Enrollment Periods for Medicare Important?

Since enrollment for Medicare only happens periodically, it is essential that those who are considering Medicare for some of their health needs knows when to enroll. This prevents possibly missing the window, and having to wait until the next one. 

In addition to this, enrollment periods differ based on particular circumstances. While there are open enrollment periods for all who may qualify for Medicare, there are also specialized periods of enrollment that are unique to certain subsets. It can often be confusing trying to figure out when you can and cannot attempt to apply. 

Open Enrollment Periods for New Medicare Recipients 

There are a total of five different enrollment periods for those who have not been on Medicare before and are thus applying for the first time. They are as follows: 

Initial Enrollment Period 

Also called IEP, this period allows you to sign up for Medicare B (medical) and D (prescriptions) three months prior to your sixty-fifth birthday. This period extends from those months to include your birth month and the following three months. For example, if you were born on April 15th, your enrollment period starts January 15th and ends July 15th of that year. 

7-month IEP2 
There is a secondary initial enrollment period that runs the same time as the primary initial enrollment period above. The difference is, this period is open to those who qualified for Medicare parts A (hospitals) and B (medical) before their sixty-fifth birthday, due to special circumstances such as disability. You also have the option to sign up for a Medicare Advantage or part D plan, should you qualify. 

Special Enrollment Periods 

Special Enrollment Periods arise out of different circumstances. They generally occur once a life event, such as loss of other insurance happens. However, each special enrollment period is different depending on the specific circumstances that have happened. The rules governing each SEP are also different, but you'll have sixty days following the event to enroll using your SEP. 

Initial Coverage Election Period 

Not to be confused with IEP above, the ICEP is the time when you can opt for a Medicare Advantage plan as opposed to Original Medicare, or sign up for prescription drug coverage under Medicare. Your ICEP will be the same as your IEP if you enroll in Medicare part B when you turn sixty-five. If you choose to enroll later, it will be whatever three month period you have prior to part B taking effect. 

Originally Posted on MedHelp
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