Initial Enrollment—Timing and Dates Matter
When you first sign up for Medicare, it’s called the Initial Enrollment Period (IEP). You can enroll as early as three months before your 65th Birthday. We actually encourage our clients to come in as early as age 62 years of age, so we can build a plan that works towards your 65th Birthday. Ideally, for your initial enrollment, we would like to start the conversations as early as the time you turn 64.5 that will give us time to work toward all your options before the Enrollment Period starts.
Early Retirement & Planning
Ages
62 - 64.5
If you are interested in retiring early or planning for your upcoming retirement we can help build a plan for when you are ready. If you have plans on retiring from your career before 65, your employer's health benefits will likely end also. If you retire at 62 and do not have a disability, you will typically need to wait three years for Medicare coverage to become effective. We can help you fill the gap with individual health insurance. There are things you'll need to consider as we walk through the options to plan your retirement coverage.
Enrollment Period
Age
65
The initial enrollment period (IEP) is the first time you can sign up for Medicare. This can happen three months before and after your birthday. Once you are 64.5 years of age, we recommend contacting a TRICOR agent. This allows enough time for us to understand your needs and develop a plan with options for you to consider.
Annual Adjustments to Coverage
Age
65+
The Medicare Open Enrollment Period, also known as, Annual Enrollment Period (AEP) is the period when individuals can change their Medicare Enrollment. This period runs each year from October 15 to December 7. Annually you have the opportunity to change some of your coverages. Any adjustments to your Medicare will take effect Jan 1 of the following year. Medicare Supplements can be changed any time throughout the year, but changes will be subject to health questions, and could also be denied coverage.
