What happens if you missed your Initial Enrollment Period for Medicare? Use the General Enrollment Period

If your client did not enroll in Medicare during their Initial Enrollment Period, then they will have to wait until Medicare’s General Enrollment Period. Every year the General Enrollment Period (GEP) for Medicare occurs between January 1 and March 31.  This is the open enrollment period for Medicare Beneficiaries who missed their Initial Enrollment Period (IEP) and needed to sign up for Medicare Part A or Part B. If you enroll during this time, then your coverage will become effective the following month after you sign up. However, signing up for Part B does not automatically enroll them in a Medicare Advantage Plan (Part C)or a Medicare Drug Plan (Part D)  .

Medicare Enrollment Dates after the GEP

Are your clients enrolling in Medicare during the GEP? If they don’t pick a Medicare Advantage Plan (Part C) Or Medicare Prescription Drug Plan (Part D) before the deadline then they will have to wait until the Annual Election Period (AEP) starting on October 15 to make a choice. There are three scenarios that will affect clients who enroll during the GEP:

1. The client was ALREADY ENTITLED to and is enrolled in Part A and is getting Part B during the GEP. This client can choose to enroll in a Medicare Advantage Plan to be effective the same date as his Part B. However, he cannot pick a stand alone Part D premium.
2. The client had NEITHER Part A or Part B and is getting one OR the other during the GEP. This client can enroll in a stand alone PART D ONLY to be effective the same month as his Part A or Part B.
   
3. The client had NEITHER Part A or Part B and is getting BOTH of them during the GEP. This client can choose to enroll in either a Medicare Advantage Plan (Part C) or a stand alone Medicare Drug Plan (Part D) to be effective the same month as his Part A and Part B.

Reminder About Late Enrollment Penalties (LEP)

If your Medicare client missed their Initial Enrollment Period, they may be charged penalties. Per Medicare.gov, Medicare eligible recipients will “have to pay a penalty for as long as they don’t have Part B. This may increase their monthly premium for Part B 10% for each full 12-month period that they could have had Part B, but didn’t’ sign up for it.”

If you are still unsure about the General Election Period dates, please call our broker managers. CONTACT US HERE

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