When Do I Need to Act?

If you miss your IEP and don't qualify for a Special Enrollment Period (for example, through employer coverage), you'll have to wait until the General Enrollment Period (January 1 - March 31 each year) to sign up for Part B. Coverage won't start until July 1 of that year, and you may owe a permanent late enrollment penalty of 10% for each full 12-month period you were eligible but didn't enroll.

The Annual Enrollment Period (Oct 15 - Dec 7) is for making changes to your Medicare coverage for the following year. You can switch between Original Medicare and Medicare Advantage, change Advantage plans, or join/switch/drop a Part D plan. The Open Enrollment Period (Jan 1 - Mar 31) is only for people already in a Medicare Advantage plan who want to switch to another MA plan or return to Original Medicare with a standalone Part D plan.

It depends on the size of your employer. If your employer has 20 or more employees, your employer coverage is primary and you can delay Part B without penalty. When you retire or lose that coverage, you'll get a Special Enrollment Period to sign up. If your employer has fewer than 20 employees, Medicare becomes primary at 65 and you should enroll during your IEP to avoid gaps and penalties. Our team can review your specific situation.