If you are interested in enrolling in Original Medicare coverage, you will need to apply during either your enrollment period, a general enrollment period, or a special enrollment period. The enrollment period that is specifically for you will be between three months before you turn 65 years of age and the three months after that. During this enrollment period, you will be able to apply for both Medicare Part A and Part B.
When you are applying for Medicare, you can choose to enroll in only Medicare Part A. If you choose to expand your coverage with Medicare Part B, you will need to pay a monthly premium. The cost of this monthly premium will vary based on certain circumstances including your income and health.
If you are eligible and interested in receiving Medicare Part B coverage, you should apply during your initial enrollment period. The cost of your premium for Medicare Part B will increase by 10 percent every 12 months after your initial enrollment period. Avoid paying more for your insurance coverage by enrolling for Medicare Part B as soon as possible.
You will have an opportunity to apply for Original Medicare during the general enrollment period if you have missed the deadline for your initial enrollment period. Typically, the general enrollment period for Medicare is from January 1st and March 31st. You can apply to any of the parts of the Medicare program during these different enrollment periods.
The special enrollment period covers people who are receiving health insurance through their place of employment or their spouse who are 65 years of age or older and do not need to apply for Medicare coverage even if they meet the age requirements.
Typically, the special enrollment periods will be open for up to 8 months after group or employment coverage has ended for individuals over 65 years of age. Medicare coverage will begin on July 1st of the year you applied to the program regardless of which enrollment period you applied during.
Some people get signed up for Medicare Part A (hospital insurance) and Part B (medically insurance) automatically if they receive Supplemental Security Income benefits while others may need to apply for the program. However, expanded coverage options such as prescription drug coverage through Part D or comprehensive Medicare health coverage with Part C.
Keep reading to learn about the comprehensive healthcare benefits of the Medicare Advantage program and how it can help you get the most coverage for your healthcare costs.