What you need to know about Medicare 2014 enrollment periods and Medicare Advantage enrollment cancellation 2
What happens if the window closes before anyone registers?
This is usually bad news.
Ask poor John. He assumed His uncle would cover the cost for everything and never bothered to sign up for Medicare during the initial registration period. I heard in some place that Medicare enrollment was automatic, aimed at people who already received the benefits of Social Security. But if you are not yet receiving Social Security before the age of 65, it is best to remember to apply for Medicare during Initial Enrollment.
As it turned out, when closing the Initial Enrollment window, John had to wait months for a second chance to enroll in Medicare. Your next opportunity to apply is available with https://www.2020medicareadvantage.com and did not arrive until the next general Medicare application period, which we will cover shortly. You can imagine how angry John was when his tractor rolled on his feet a few weeks before the general registration arrived. Poor John was so angry that he had not enrolled in Medicare during the initial enrollment period that he kicked with his good foot.
Compare John’s story to Jane’s …
John’s neighbor, Jane, went to Social Security website and enrolled in Medicare early during her initial registration period. Now, she registered for Part A of Medicare with no premiums for approximately 99% of the people who own Medicare and Part B of Medicare. These two parts of Medicare are called Original Medicare because they date back to Medicare in 1965. Jane considered leaving Part B because she has a monthly premium, just over $100 for most people, but decided that her health was not something to play with.
And from there …
Knowing that Medicare Original is full of loopholes, Jane debated whether to invest in a Medicare Advantage plan or a Medicare supplement. The initial registration is a good time to investigate all options. Jane decided to opt for a Medicare, or Medigap, supplementary plan, in part because she had Medigap-guaranteed emission rights for six months, which meant that there was a single six-month period in which no insurance company could deny her any available Medicare supplement policy.
She wanted it regardless of her medical history. Jane has also enrolled in a Medicare Part D prescription drug plan. Again, during the initial registration, it is good to investigate all of your options. In addition, by joining a prescription drug plan when he was first eligible, Jane avoided having to pay a Medicare Part D fine by joining afterwards. John was not so lucky. Remember, he waited until the general Medicare enrollment period to enroll in Medicare.