Enrollment Periods
Initial Enrollment Period (IEP)
Your Initial Enrollment Period (IEP) starts three months before your 65th birthday month and ends three months after, giving you a seven-month window to enroll in DMV Senior Benefits plans. If you’re not already receiving Social Security or Railroad Retirement Board benefits, it’s crucial to sign up for your coverage during this period.
Even if you’re not retiring at age 65, you can still enroll in coverage during your IEP. Once you retire, you have the option to transition to an Advantage plan for broader coverage, including services like dental, vision, hearing, and critical illness.
Annual Enrollment Period
The Annual Enrollment Period (AEP), also known as Open Enrollment or the Annual Election Period, takes place every year from October 15 to December 7. Any changes made during this time will take effect on January 1 of the following year.This period is especially important for those with Advantage plans and Prescription Drug plans (Part D). It’s your opportunity to review and adjust your coverage to meet your needs for the upcoming year.
FAQs About Annual Enrollment Period
Who does the Annual Enrollment Period apply to?
If you have Original Medicare with a Supplement plan, AEP is a great time to review your standalone Prescription Drug coverage. It’s also an opportunity to assess whether changes in your health or budget require you to consider a Medicare Advantage plan.
What can I do during the Annual Enrollment Period?
Switch: Move from Original Medicare to a Medicare Advantage plan, or vice versa.
Change: Switch between different Medicare Advantage plans.
Enroll: Join a Part D prescription drug plan if you don’t have one.
Switch: Change your Part D plan if you already have one.
Drop: Cancel your Part D coverage if you no longer need it.
Why should I review my coverage during AEP?
Do I have to change my plan during AEP?
General Enrollment Period
If you’re eligible for DMV Senior Benefits coverage but missed your initial enrollment, don’t worry. The Open Enrollment Period (OEP) runs from January 1st to March 31st each year, giving you another chance to enroll in Parts A and B. The OEP is an opportunity for those who missed their initial enrollment period or any special enrollment periods, such as after losing job-based coverage.
Many individuals delay enrolling in Part B if they’re still working and have employer-sponsored health insurance. While this can be a smart decision, some may miss their initial sign-up window or experience changes in their employment that make enrolling in Medicare a better option. Keep in mind, you may face a Part B Late Enrollment Penalty if you enroll late.
Special Enrollment Periods
You may be eligible to enroll in a Medicare Advantage Plan outside of the Initial Enrollment Period (IEP) or Annual Enrollment Period (AEP) if you meet certain criteria. These opportunities are categorized into several situations, and while we’ll cover some common ones here, we recommend visiting the Medicare.gov page for a full list. If you believe you’re eligible for a Special Enrollment Period, our licensed insurance agents can help evaluate your situation and determine your eligibility.
