October 1st, 2024 | Medicare, Health Insurance Basics
The first step to picking your Medicare plan is understanding what Medicare is, then you can create your ideal coverage. But you also need to know when and how to enroll.
Initial Enrollment Period
Your Initial Enrollment Period is when you are first eligible to enroll in Medicare. This applies to all Medicare parts: Original Medicare, Medicare Advantage, Medicare Supplement, and Medicare Part D. If you don’t sign up for Medicare Part B when you’re first eligible, Medicare will require you to pay a late enrollment penalty.
Your Initial Enrollment Period is:
- The month when you turn 65
- 3 months before you turn 65
- 3 months after you turn 65
Before you enroll, you’ll want to confirm your month of eligibility. To see when you’re eligible, visit the Social Security Administration’s website or call 800-772-1213 (TTY: 800-325-0778).
Additional enrollment periods
As your needs or budget change over time, you may find yourself wanting to change plans. You can make changes to your plan during the following enrollment periods.
Annual Enrollment Period
When: Each year from October 15 through December 7
What you can do:
- Switch from Original Medicare / Medicare Supplement to Medicare Advantage
- Switch from Medicare Advantage to Original Medicare / Medicare Supplement
- Change Medicare Advantage plans
- Add or drop a standalone Medicare Prescription Drug Plan (PDP)
Open Enrollment Period
When: Each year from January 1 through March 31
What you can do:
- Change Medicare Advantage plans
- Drop your Medicare Advantage Plan and return to Original Medicare / Medicare Supplement
- If returning to Original Medicare, you also have the option at this time to purchase a standalone Medicare Prescription Drug Plan (PDP).
Special Enrollment Period
When: You may make changes to your plan any time your situation qualifies. For example, if you happen to move to a home outside your service area, you are allowed to change plans.
What you can do, if eligible:
- Switch from Original Medicare / Medicare Supplement to Medicare Advantage
- Switch from Medicare Advantage to Original Medicare / Medicare Supplement
- Change Medicare Advantage plans
- Join, switch or drop a standalone Medicare Prescription Drug Plan (PDP)
For more information on Special Enrollment Period, visit Medicare.gov.
Changing Medicare Supplement plans
Typically, you can only change Medicare Supplement plans when your plan is up for renewal – once each year in May. You may also have to answer additional health questions to be accepted into the new plan.
Blue Cross and Blue Shield of North Carolina (Blue Cross NC) gives you additional flexibility, allowing you to change Medicare Supplement plans during Annual Enrollment Period – without additional medical exams, underwriting or health questions. You can also switch from Medicare Advantage to Original Medicare + Blue Medicare Supplement without underwriting during this time.