Understanding Medicare Changes Outside Enrollment Periods

Many people mistakenly think they cannot change their Medicare coverage when it is not Medicare Advantage Open Enrollment season from January 1 - March 31 or the Medicare Annual Enrollment Period (AEP) from October 15 - December 7. However, this is not entirely true. Between April and September, you can explore several important Medicare options, especially if you qualify for special circumstances.

Here's what you need to know about your choices during this mid-year period.

What Medicare Changes You Can't Do:

If you qualify for a special enrollment period (SEP), these actions are only available between April and September.

• Switch from one Medicare Advantage (Medicare Part C) Plan to another

• Switch from Medicare Advantage back to Original Medicare

• Enroll in or change a Part D Prescription Drug Plan

  
  

These changes usually occur during:

• The Medicare Annual Enrollment Period (AEP): October 15 - December 7

• Medicare Advantage Open Enrollment Period (MA OEP): January 1 - March 31

  
  

Opportunities with Special Enrollment Periods

You may still make Medicare changes from April to September if you qualify for a Special Enrollment Period (SEP). SEPs are triggered by specific life events, such as:

• Moving to a new area that is outside of your current plan's network

• Losing other coverage, like employer or union health insurance

• Gaining or losing eligibility for Medicaid or Extra Help

• Leaving a long-term care facility

• Being affected by a federal emergency or a natural disaster

  
  

If you qualify for a Special Election Period (SEP), you can:

1. Enroll in or change a Medicare Advantage Plan

2. Switch between plans

3. Join or change a Part D Plan

   
   

Turning 65 | Initial Enrollment Period (IEP)

If you are turning 65, you have a 7-month window that begins 3 months before your 65th birthday, continues through the month you turn 65, and ends 3 months after your 65th birthday. This is known as your Initial Enrollment Period (IEP).

During your IEP, you can:

• Enroll in Original Medicare Parts A and B

• Add a Prescription Drug Plan (Part D)

• Choose a Medicare Advantage Plan

• Purchase a Medicare Supplement (Medigap) Plan

  
  

For more details on Turning 65, you can download your FREE e-book, *The Comprehensive Guide to Turning 65 now

Review and Prepare Now for Fall Enrollment

Even if you are not eligible to make any changes right now, it’s a great time to:

• Review your current coverage

• Track your prescription costs

• Get a plan checkup with a licensed advisor

• Ask questions in preparation for the busy fall enrollment season

  
  

If you don’t have a dedicated advisor yet, now is the perfect time to get one. A licensed advisor you can meet or call when needed is one of the most valuable resources in your Medicare toolkit!

Need Help Navigating Medicare?

At The Bedrock Group, we have been helping individuals and their families since 2018. We assist people in making informed decisions about Medicare and Retirement Planning throughout the year. Whether you qualify for a SEP, are turning 65, or want a complimentary review of your Medicare plan before AEP, we are here to help.

If you need assistance over the phone, call us at 502-200-1516. To make an appointment, please visit bedrockfg.com/scheduleappointment.

The right advice makes all the difference. To learn more about The Bedrock Group, continue reading below.

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At The Bedrock Group, we are a Veteran and First-Responder-owned, full-service insurance agency dedicated to helping you navigate your insurance and financial needs. We proudly offer complimentary consultations and no-cost Medicare reviews.

We are headquartered in New Albany, Indiana and have a full-service agency in Asheville, North Carolina.

We have advisors in 48 states ready to assist with a wide range of services, including:

• Life Insurance

• Wealth Management

• Medicare Plans

• Medicare Advantage & Supplement (Medigap) Plans

• Hospital Indemnity

• Final Expense (Burial Planning)

• Mortgage Protection

• Business Insurance

• Retirement Planning

• Medicare Enrollment Assistance

• And more!

  
  

Do you have Medicare questions? Call our team at 502-200-1516 for help over the phone.

To schedule an in-person Medicare Benefits Review, please visit www.bedrockfg.com/scheduleappointment.

At The Bedrock Group and Senior Solutions, we're here to help!