IS TO LATE TO MAKE A CHANGE?
Medicare Special Enrollment Periods (SEPs) are designated periods of time during which individuals who are enrolled in Medicare may make changes to their coverage outside of the normal enrollment periods.
SEPs are designed to provide individuals with flexibility and an opportunity to make changes to their coverage in certain circumstances.
There are several types of SEPs, each with its own set of eligibility requirements and enrollment periods. Some common examples of SEPs include:
- Initial Enrollment Period (IEP) - This seven-month period during which individuals who are newly eligible for Medicare can enroll In Parts A and B.
- Annual Enrollment Period (AEP) - This occurs from October 15th to December 7th each year, during which Medicare beneficiaries can change their coverage for the upcoming year.
- Medicare Advantage Open Enrollment Period (OEP) - This occurs from January 1st to March 31st each year and allows individuals who are already enrolled in a Medicare Advantage Plan to switch to another Medicare Advantage Plan or to return to Original Medicare.
- Special Enrollments Periods (SEPs) - These occur throughout the year and are triggered by certain life events, such as moving to a new location, losing employer-sponsored coverage or becoming eligible for Medicaid.
To take advantage of a SEP, individuals must meet the eligibility requirements and submit an enrollment request during the designated enrollment period. It is important to note that some SEPs have limited enrollment periods, so it is essential to act quickly to ensure that coverage changes are made in a timely manner.
Contact your Medicare Agent for more information or to take advantage of a SEP.