5 things to know about the Medicare Initial Enrollment Period

Medicare’s Initial Enrollment Period (IEP) is an essential part of starting your Medicare coverage. Whether you plan to retire at 65 or not, it’s important to know about IEP to set yourself up for success in the future.

Here’s what you should know:

  • IEP is your time to enroll in Medicare parts A, B, and D. Part A and Part B are also known as Original Medicare. Part D is prescription drug coverage.
  • Enrollment begins three months before your 65th birthday and ends three months after—for a total of seven months including your birth month.
  • If you’re not receiving Social Security or RRB benefits, you must sign up for Medicare parts A and B—otherwise, you’re automatically enrolled. Most people get Part A without a monthly premium but do have to pay for Part B.
  • Even if you don’t plan to begin retirement at age 65, you can still sign up for Medicare parts A and B during IEP and elect more coverage after retirement.
  • If you plan to retire later than age 65, you can delay your Part B coverage. You may want to delay Part B coverage if you’re paying for an employer-sponsored insurance plan and want to avoid the Part B premium.
  • If you’re approaching 65, mark your calendars now so you’re ready to enroll when you become eligible.

Getting started with your Medicare coverage can feel overwhelming. But United Medicare Advisors are here to help! We’ve got plenty of resources to help you get up to speed on your options.

Before you sign up, contact us to make sure you don’t overpay for your policy. We’ve got a dedicated team of advisors to help you through the process and get the coverage you need at the best possible price.

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