Initial Enrollment Period (IEP) –
This is when someone first becomes eligible and can sign up for Medicare. It begins 3 months before the 65th birth month and lasts three months after.
Annual Enrollment Period (AEP) – Oct 15 – Dec 7th.
Medicare eligible people can enroll in, disenroll from or change to a Medicare Advantage or Medicare Prescription Drug plan to start Jan. 1st following year.
Open Enrollment Period (OEP) – Jan 1st – Mar 31st.
During this period, people with Medicare Advantage can make plan changes to another Medicare Advantage plan (with or without prescription drug coverage) or Original Medicare (with or without prescription drug coverage).
Special Enrollment Period (SEP) –
You could qualify for a special enrollment period during any month when certain events happen even if it’s outside of AEP and OEP. There are many types of SEPs but some common ones are:
Signing up late can affect premium costs
You may have to pay a Late Enrollment Penalty (LEP) if you sign up late for Part B or Part D when you first become eligible for Medicare. Find out more by visiting www.medicare.gov and searching for: