Medicare has what they call election periods that allow Medicare recipients to change plans during certain times of their lives or when certain situations arise.
The two most well known election periods are the Initial Election Period (IEP) and the Annual Enrollment Period (AEP).
IEP is used when an individual receives their Medicare card and they decided on a Part D plan, Supplement Plan or Medicare Advantage plan to enroll into. The IEP allows you to enroll into a plan 3 months before and 3 months after A and B effective dates.
It's encouraged to use this election period prior to the effective dates on your Medicare card so there isn't a period of time that you only have original Medicare.
AEP is used at the end of each year to switch plans for the coming year. You have from October 15th until December 7th to complete an application to start January 1st of the next year.
Though these are the most commonly talked about election periods, it is important to know that there are many other election periods that would allow you to switch throughout different parts of the year. These election periods are called Special Election Period (SEP).
Do you have a limited or low income?
Have you moved in the last 6 months?
Have you recently lost other health coverage?
Were you hospitalized for an extended period of time?
Contact La Baye Insurance and with only a few minutes we can determine if you can switch now!