If you're expecting Medicare to
notify you about when it's time to
sign up. Well, don't hold your breath
because it's totally up to you to figure
out when to apply for Medicare. And as
you may already know, it takes a lot of
time and effort to learn about Medicare
and sometimes the smallest detail can be
overlooked. Such as, when to apply for
Medicare. But it's crucial to know this
information so that you don't have a
delay in coverage, and in today's video
I'm going to share with you the three
Medicare enrollment periods, so you know
which one best suits your situation.
Hi, Joann Quinn, Insurance Professional and
co-founder of REMEDIGAP.com, and if
you're already subscribed to my channel
then thank you, and if this is your first
visit here then welcome and feel free to
subscribe as well. You know, my goal is to
always try and make Medicare and Medigap
a little bit easier one video at a time.
So let's get started with the very first
enrollment period. The most common time
to enroll in Medicare is usually during
the Initial Enrollment Period. But this
is a period of time that you have to
decide whether or not you want Part A or
Part A and Part B. Now, Part A is usually
premium free because if you worked ten
years and you paid Medicare taxes then
you actually paid for Part A already. So,
it's noted as premium free. Most people
will go ahead and sign up for Part A
during their Initial Enrollment Period
but when it comes to Part B, that is not
premium free and that is why you have to
make a decision on whether or not you
want to opt to apply for Part B, but
there's usually factors that help
dictate whether or not you want to apply
for Part B, so let's take a look at some
of those factors and see if they apply
to your situation. Alright, the first
thing we're going to look at when
determining Part B enrollment is whether
or not you will keep your
employer-sponsored group health plan. Now,
if you or your spouse will continue
working and you will maintain
employer health coverage, then you can
delay enrolling in Part B - and once that
coverage ends or your employment ends, you
can then enroll in Part B. And, in most
cases, you will not receive a penalty for
enrolling late. Now, if you have an
employer that has fewer than 20
employees and you are going to continue
keeping their group health coverage then
you may have to sign up not use for Part
A but also Part B because Medicare will
be your primary insurance and the
employer ( the small employer) insurance
will be secondary. It's always a good
idea though, whether it's a large
employer or small employer, to meet with
your Benefits Administrator to see how
Medicare works with their group health
coverage - and especially with a small
employer - if you have to sign up for Part
A and Part B, because once you sign up
for Part B you actually activate your
one-time Medigap Open Enrollment Period.
And, I'm going to address the importance
of that enrollment period at the end of
this video, so make sure you stay to the
end for those details. Okay, another
question you might want to ask yourself
when determining Part B enrollment is
are you going to join your former
employers Retiree Health Plan? If your
former employer offers retiree health
coverage, then you may have to sign up
for both Part A and Part B in order to
receive full benefits from your Retiree
Health Plan. And, as always, it's still a
great idea to meet with the Benefits
Administrator so that you know exactly
how Medicare works with your Retiree
Health Plan. And, another determining
factor for enrolling in Part B is
whether or not you are going to drop
your current health coverage when you
turn 65 - whether its employer coverage,
coverage through COBRA, a plan you might
have through the Affordable Care Act or
some other type of health plan. So, if you
will be dropping your health care
coverage when you turn 65, then you
definitely want to sign up for both Part
A and Part B so you have complete health
coverage. Part A being your hospital
insurance and Part B your medical
insurance. So, once you know which parts
of Medicare you want, then you can apply
during your Initial Enrollment Period
which is a seventh month window. It
starts three months before your birthday
month, includes your birthday month, and
the three months after. Now, just because
Medicare gives you this long window of
opportunity to sign up doesn't mean you
should wait until the seventh month to
apply, especially if you want Medicare to
begin the month you turn 65, and this is
important because Medicare Part B is not
retroactive. And, it's also important to
go ahead and apply when your Initial
Enrollment Period begins just in case
there is a glitch with your application.
Unfortunately, it does happen from time
to time, so you want to give yourself
enough time to fix that application, so
you can have Medicare begin at your
desired start date. So, let's take a look
at the Initial Enrollment Period window,
and we're going to use an example straight
from Medicare. The first example is
Mr. green
he turned 65 in July, specifically July
20th, so it's saying if he signs up for
Medicare in April May or June his
coverage will start on July 1st. So, April
May and June are the first three months
in his Initial Enrollment Period. Now, the
second example is for Mr. Kim whose 65th
birthday is on July 1st. Since his
birthday is on the first day of the
month his coverage will actually start
the first day of the prior month, so his
Initial Enrollment Period actually
begins in March, so he has all of March
April, and May in his Initial Enrollment
Period to sign up for Medicare. So, his
coverage will start on June 1st. Now, if
you choose to apply for Medicare during
the month you turn 65 or during the last
three months of your Initial Enrollment
Period, the start date for your Medicare
coverage will be delayed - as you can see
in this chart. And, remember Medicare
won't retro actively start Part B. Okay,
perhaps the Initial Enrollment Period
covers your situation, but there are
still two more Medicare enrollment
periods to touch on, and if you stay
to the end of this video, you will
also get tons of additional information
about Medicare Supplement and Part D
(drug) plan
enrollment opportunities. But, first let's
touch on the Special Enrollment Period.
The Special Enrollment Period is
available to you if you lose your
employer health coverage or you stop
working. Remember, during the Initial
Enrollment Period, you probably would
sign up for Part A, because it's premium
free - so this period of time is available
for you to sign up for Part B. So, once
you lose that employer coverage or you
stop working, you have eight months to
sign up for Part B during the Special
Enrollment Period. Now, something to keep
in mind, if you have COBRA or a Retiree
Health Plan, you DO NOT qualify for the
Special Enrollment Period because that
type of coverage is not based on current
employment. And, I know that comes as a
surprise, as it did to a gentleman I
spoke to a while back who was losing
Retiree Health coverage (which is
happening way too often these days) but
he just figured that he could sign up
for Part B because he already had Part A
and the problem was is that it was
retiree coverage; it wasn't based on
current employment, so he was not
eligible for the Special Enrollment
Period and he was way past his Initial
Enrollment Period, so we didn't qualify
for that either. So, the only thing left
for him to do was enroll during the
General Enrollment Period. Now, you might
be thinking that's a relief at least he
had an opportunity to sign up for
Medicare, and you're absolutely correct
he did. However, the General Enrollment
Period is only available from January
1st through March 31st every year, and
when you sign up during that period of
time, your Medicare doesn't actually
begin until July 1st of that year. So, if
you miss your Initial Enrollment Period
and you don't qualify for a Special
Enrollment Period, then your only option
is the General Enrollment Period, but it
can leave you with a gap in coverage.
So, contact Social Security as soon as you
know you want to apply for Medicare.
Their website will give you the proper
steps on how to apply for Medicare based
on your situation, and I'll put the link
to their website in the post below.
And, I'm really excited to share my bonus
information with you today. It's kind of
a bonus extravaganza. I have information
about Automatic Medicare Enrollment, the
Medigap Open Enrollment Period and
Part D drug plan enrollment opportunities. So,
let's take a look. Now, it's really easy
to determine if you will be
automatically enrolled in Medicare.
If you're already receiving Social Security
benefits, then Medicare will send you
your Medicare card about three months
before your 65th birthday month, and it
will include both Part A and Part B. Now,
what if you don't want Part B? it's not a
problem. Your card will come with some
instructions on how to return it if you
don't want Part B. And, if you haven't
received your card and you think you
should be automatically enrolled, then
definitely contact Social Security and
see if they are expecting you to
initiate an application. Alright, let's
move on to our second round of bonus
information. Remember when we were
talking during the Initial Enrollment
Period about how important it was to
make your decision about whether or not
to enroll in Medicare Part B. Well, that
is because when you enroll in Part B you
actually initiate your one-time Medigap
Open Enrollment Period. This is a
one-time six month window where you can
purchase a Medigap plan (which is also
known as Medicare supplement insurance).
But, you can get that during the six
month window, and it starts from your
Part B effective date - without having to
medically qualify for a plan. It's a
really important window of opportunity
because once it's gone - it's gone -and you
can't get it back. Now, I know that it
seems odd that I'm saying you would have
to medically qualify. But, yes, after that
a Medigap Open Enrollment Period ends
then you do have to, in most cases, and in
most states, medically qualify for a
Medigap plan. It does seem odd because we
are now used to the fact that with the
Affordable Care Act, pre-existing
conditions aren't taken into
consideration. But, keep in mind that
Medigap (Medicare supplement) insurance
does not abide by the same regulations.
And, I also want to briefly touch
on those Retiree Health Plans because we
did talk about it a little bit, and if
you have a Retiree Health Plan and you
lose that coverage, then more than likely
you have already signed up for Part B
because, like we said before, in order to
get your full retirement benefit your
former employer would probably want you
to have Part A and Part B. Because
you sign up for Part B, you initiated that
Medigap Open Enrollment Period already
so you are not going to get it back and
if you lose your Retiree Health Coverage
you won't have a Medigap Open Enrollment
period, so you will have to medically
qualify for Medicare Supplement
insurance or use your Guaranteed-Issue Right
if it's available to you. Alright,
so now let's move on to part three in
the last part of my bonus extravaganza
which is about Part D drug plan
enrollment opportunities. And, this is
always a very popular topic - Part D drug
plans, so you do have a few more options
when it comes to this compared to
Medigap, and what's good is that you do
not have to medically qualify for a Part
D plan. You can enroll in a Part D
plan during your initial Enrollment
Period, during your Special Enrollment
Period, and every year during the Annual
Election Period - which occurs between
October 15th and December 7th. Now, when
you get a plan (a drug plan) during the
Annual Election Period, which by the way
is also called the Medicare Open
Enrollment Period - they go hand-in-hand
but you'll hear both, but between October
15th and December 7th, every year, you can buy
a plan and then it starts January 1st of
the following year. So, those are your
opportunities to buy a Part D plan and
again, you do not have to medically
qualify - which is nice. Well, that was a
lot of information to take in and
a lot to deliver, so that's also why I
created my free Medicare eCourse where
you can continue learning about Medicare
the enrollment penalties, enrollment
deadlines, Medicare Advantage plans vs.
Medicare supplement insurance and more.
It's one email a day over the course of
a week so you can learn on your schedule.
All you have to do is just
click on any of the links in this post
to sign up. And, if you found this video
helpful, please like it, share it
subscribe so you don't miss any of my
other videos and if you have any more
questions about enrollment, please feel
free to leave a comment below or reach
out to me directly and you can reach me
by phone or email and find all my
contact information also in this post.
Thanks for watching and I'll see you
next time - bye bye.
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