Medicare Initial Enrollment Period
Getting ready to turn 65; and wondering about how and when to sign up for Medicare? With over 11,000 Baby Boomers a day turning 65, I get asked this question quite often.
There are several different enrollment periods for people going on Medicare. However, we will explain the most common enrollment period for those turning 65. It is called the ‘initial enrollment period.’ Your initial enrollment period (IEP) is the first time you can sign up for Medicare, and you can enroll in Medicare Parts A, B, C and D during this time.
The initial enrollment period lasts for seven months. The three months before your 65th birthday, the month of your 65th birthday and the three months following your 65th birthday.
Regardless of when you enroll, your Medicare will not begin any sooner than your birthday month.
For example; if your 65th birthday is September 19, 2016, here is the unique initial enrollment period for you:
- June, July and August, you may enroll in Medicare – your start day will be September 1, 2016
- September enrollment – your Medicare start date will be October 1, 2016
- October enrollment – your start date will be December 1, 2016
- November enrollment – your start date will be February 1, 2017
- December enrollment – your start date will be March 1, 2017
The one caveat to this rule is if your birthday falls on the first day of the month. If your birthday falls on the first; you are actually eligible for Medicare benefits on the month before your birthday. For instance, if you were born on September 1 in the example above your IEP would begin in May of 2016 with a Medicare effective date of August 1, 2016.
How do you enroll?
If you elect to begin receiving your Social Security benefits or Railroad Retirement Board benefits when you turn 65, you will automatically be enrolled in Medicare Parts A and B and will receive your red, white and blue Medicare card in the mail approximately three months before your 65th birthday.
Or, if you have been receiving Social Security disability, your Medicare benefits will begin on your 25th month of disability.
If you have elected to not immediately draw your Social Security benefits upon turning 65 due to continuing employment, then your Medicare enrollment will not happen automatically. You will have to visit your local social security office or you can enroll online at www.ssa.gov.
However, if you do not have medical and prescription drug coverage that is at least as good as Medicare, you may pay a penalty for not enrolling in Medicare when you first become eligible. If you do have credible coverage from an employer or other source, it is important to keep proof of this coverage to also avoid the Part B and/or Part D late enrollment penalties.