What you need to know about Medicare 2014 enrollment periods and
Disenrollment from Medicare Advantage
Open enrollment, Initial Medicare enrollment, and special enrollment are terms that are somewhat confusing for many individuals. Fortunately, it is not difficult to know the differences that exist between the different Medicare enrollment periods and the opportunities they offer.
Initial Medicare Enrollment Period
Every American with age 65 in view must know and understand the initial application period. Although there has been much talk in recent years about raising the Medicare age, the age of Medicare eligibility for the vast majority of Americans has been the age of 65 years ever since Medicare was established in the year 1965. Some people become eligible before the approach this age as a result of one form of disability or the other, but for approximately six out of seven Americans, eligibility for Medicare advantage plans begins around age 65 and initial enrollment occurs at approximately the same time.
Does insurance start the day someone turns 65?
Not exactly. The initial Medicare enrollment period is actually a 7 month period that begins 3 months prior to the month you reach the age of 65. This means, for example, that if you were born on December 1, 1948 and will turn 65 on December 1, 2013, your Initial Enrollment Period began on September 1 of this year, or three months before your 65th birthday. But if he was born on New Year’s Eve in 1948 and turns 65 on December 31, 2013, his initial enrollment period also began on September 1 of this year, almost four months before his 65th birthday. But in neither case will insurance begin exactly when you turn 65.
So when will this start?
If you apply during the first three months of your initial application period, insurance should begin on the first day of your birthday month. But if your birthday falls on the first day of the month, Medicare insurance should start on the first day of the previous month. Keep in mind that you shouldn’t wait too long to sign up, as doing so may take time to get started.
And the Initial Registration window closes.
Again, the initial application period is seven months; it ends three months after the month of your 65th birthday if you are among 83% of Americans who qualify for Medicare at age 65. 65, has a seven-month enrollment period that begins three months before the month your Medicare eligibility begins.