The Enrollment period for this year, if you are already 65, will end in February. If you are not yet turning 65, then you needn’t worry, this only concerns folks who have already turned 65 and have not yet enrolled.
What happens when you don’t enroll in a Medicare Supplemental Insurance Program? Well….for one thing, all you will have is Medicare Part A and Part B. If you don’t know what that means, you can check other posts here on my blog, or you can give me a call.
You will only be covered for Medical Expenses up to a certain amount, and then the rest comes out of your pocket. It also will not cover all of your prescription drugs. That is Medicare Part D.
What else should you be aware of?
“There are several enrollment periods, in addition to the seven-month initial enrollment period.
If you missed signing up for Part B during that initial enrollment period and you aren’t working, you can sign up for Part B during the general enrollment period that runs from January 1 to March 31 and coverage will begin on July 1.
But you will have to pay a 10% penalty for life for each 12-month period you delay in signing up for Part B. Those who are still working, though, can sign up later without penalty during a special enrollment period, which lasts for eight months after you stop working (regardless of whether you have retiree health benefits or COBRA).
If you miss your special enrollment period, you will need to wait to the general enrollment period to sign up. Open enrollment, which runs from October 15 to December 7 every year, allows you to change Part D plans or Medicare Advantage plans for the following year, if you choose to do so.
(People can now change Medicare Advantage plans outside of open enrollment if they switch into a plan given a five-star quality rating by the government.)”
If this all sounds a little confusing, I understand. But I can help you to understand the different options for Medicare Choices and what type of Medicare Supplemental Insurance will fit with your health care needs and your budget!!