When you become eligible, Medicare enrollment windows open. But some of these windows close quickly, so if you wait too long to sign up you may have fewer choices or pay more.
While on Medicare, you have the annual enrollment period for changing coverage. The annual window is from October 15 to December 7. There are also special enrollment periods for certain events, like moving to another state, or if you retire after you’re 65 and lose your employer coverage, or if you have a qualifying disability like ALS or ESRD.
Consider Your Needs
Deductibles, copayment and coinsurance are costs you have to consider, so it’s important to truly understand your personal needs. Meeting with a Medicare expert 4-6 months before your 65th birthday, or before any special enrollment period, can help you customize your coverage choices and make good decisions about supplemental insurance.
The important thing is to take the time to get educated on Medicare timelines and choices. Only then can you have an action plan. And remember, we’re always here to help you with sound advice and counsel. Just contact us.