If you missed your initial enrollment period for Medicare, you can apply between January 1 and March 31

What Can You Do During the Medicare General Enrollment Period?

If you missed the Initial Enrollment Period (three months before you turn 65 to three months after), you still have an opportunity to apply for Medicare during the General Enrollment Period. But the General Enrollment Period has its own parameters for what you can do.

When Is The Medicare General Enrollment Period?

The General Enrollment Period takes place from January 1 to March 31 each year. You are only able to join Medicare Part A and Part B during the General Enrollment Period.

Medicare Part A covers inpatient costs such as room and board, surgeries, and medications.

Medicare Part B covers 80% of your outpatient costs, such as preventive care, ambulance services, and medical devices.

What Am I Not Able To Do?

You won’t be able to join Medicare Advantage or a Part D drug plan. You’ll have to wait until the Annual Enrollment Period, which is from October 15 to December 7.

How Will This Impact Costs?

You’ll have to pay late enrollment fees. This is why it’s always better to join Medicare as soon as possible.

You must join during the nearest General Enrollment Period to keep penalties from increasing.

Coinsurance, deductibles, and copayments will be the same as they would if you joined when you first became eligible.

Here is how late enrollment affects Part A and B premiums:

  • Part A – 10% added to premium costs for twice the number of years you waited to join
  • Part B – Gains 10% per year you wait; late fee is permanent

In 2022, Part A’s premiums are:

  • $274 if you worked between 30-39 tax quarters
  • $499 if you worked fewer than 30 tax quarters

In 2022, Part B’s premium depends on your earnings from 2020 as reported on your income tax filing. For most, the premium will be $170.10.

We Give Guidance During The General Enrollment Period

Medicare Sharks is here to help you navigate all enrollment periods, whether that be General Enrollment or otherwise. When you reach out to us, we’ll give you the relevant information so that you’ll be able to choose a plan that works best for you. Call us today at 561-225-3022, or our alternate number at 561-225-3633.