What do I need to do right now? Do these rules apply to me? This blog will discuss some of the most common enrollment periods individuals typically deal with.
You have worked for many years and are looking forward to enjoying your retirement and your transition into Medicare! Many will find themselves using their “Initial Enrollment Period”, or IEP, to enroll into Medicare for the first time. For example, if you turn 65 in November, you can apply for Medicare - as well as any additional coverage - 3 months before your birth month, during your birth month, and the following three months. Applying in this time allows you to join Medicare with no late enrollment penalties.
Turning 65 but continuing to work and stay on the employer plan? In those cases, individuals can choose to remain on their work coverage and forego Medicare as long as it is deemed “creditable” coverage – your employer will know this and should send you a yearly letter confirming creditability. When you do retire, you will then have a “Special Enrollment Period” or SEP, to join Medicare without incurring any late enrollment penalties.
Already a Medicare beneficiary? As your television ads and insurance companies love to remind you, each year from October 15th through December 7th you can change your existing coverage for something that might better suit your financial or health needs. This is known as your “Annual Enrollment Period”, or AEP.
Now let’s say that it is January, and you are just getting used to your 2026 plan. You find out that a new specialist that you would like to see does not participate in your Advantage plan’s network. Or maybe a medication feels very expensive. Is there anything that you can do? Yes! You have January through March to make a one-time change, which is known as “Medicare Advantage Open Enrollment Period”, or MAOEP. Since Advantage plan networks and benefit structures can change each year, Medicare created this enrollment period to offer one more opportunity for members to fix things: missed the AEP review or overlooked a crucial detail or felt like an agent didn’t recommend the right plan.
Twin City Underwriters is proud to serve our clients no matter what stage of Medicare they are in – our team is highly skilled in determining possible courses of action for clients in need of new coverage! Call us anytime of the year, you never know when we can fix something that isn’t working for you!
Choosing a Medicare plan can be difficult. Twin City Underwriters helps Medicare recipients in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa and Florida find the Medicare plan that meets their unique needs. Schedule a one-on-one meeting with one of our Medicare insurance brokers to get your questions answered!
