Throughout the year there are different 'seasons' and date ranges that Medicare beneficiaries should be aware of and note. These periods of time correspond with rules for making plan changes depending on the plan that you have, you may or may not be able to make a change for that given period. Below we will note these 'seasons', and who can make changes during each of them.
Initial Coverage Election Period (ICEP)
This period lasts for seven months and includes the three months prior to your 65th birth month, your 65th birth month, and the three months following your 65th birth month. During this time period you are able to enroll in Medicare Parts A & B, a Medicare Advantage plan, or a Medicare Supplement paired with a prescription drug plan (PDP). If you miss this window without a valid waiver, you may incur part B & D penalties, and will have to wait until the upcoming Annual Enrollment Period to become a Medicare Advantage Beneficiary (MAPD). For Medicare Supplement coverage, an application may be submitted at any point throughout the year after Part B enrollment. If the application is approved by the carrier, coverage becomes effective the 1st of the ensuing month.
Annual Notice of Change (ANOC)
This period is during the month of September, if you are a Medicare Advantage plan beneficiary you will receive a letter from your carrier detailing your current plan changes for the upcoming year. These changes could include co-pay differences, network or premium changes, ect.
Annual Enrollment Period (AEP)
This period runs from October 15th through December 7th of every year. During this time, Medicare Advantage and Part D prescription drug plan beneficiaries are able to make plan changes for the upcoming year with a coverage effective date of January 1st provided their application is approved.
Medicare Advantage Open Enrollment Period (MA OEP)
This period runs from January 1st through March 31st of eary year. During this time, MA beneficiaries are able to move from one Advantage plan to another, or disenroll from a MA plan reverting back to Original Medicare and a Medicare Supplement plan. You are unable to make any changes if you a currently enrolled in Original Medicare during this period.
General Enrollment Period (GEP)
This period also runs from January 1st through March 31st of every year. If you missed your ICEP without a valid waiver, you are able to enroll in Medicare Part B and Part B only during this time. Signing up through GEP typically means you will have a Part B penalty.
Flu Season
From November 1st through April 31st, Medicare Part B covers 100% of the costs associated with your yearly flu shot with no Part B deductible required.
Wrap-Up
To reiterate, it is important to understand these periods that exists throughout the year as a Medicare beneficiary. To better understand how they may affect your situation and when you are able to make changes, contact a Poindexter representative and they will help you navigate your options.
