General Enrollment Period (GEP)
When It Happens
Section titled “When It Happens”- Dates: January 1 – March 31 each year
- Coverage Start: As of 2023, coverage begins the month after you enroll (previously July 1)
What You Can Do During GEP
Section titled “What You Can Do During GEP”The General Enrollment Period is for people who missed their Initial Enrollment Period (IEP) and don’t qualify for a Special Enrollment Period (SEP). During GEP, you can:
- Enroll in Part A (Hospital Insurance) if you don’t already have it
- Enroll in Part B (Medical Insurance) if you missed signing up earlier
- After enrolling in Part A and/or Part B, you can:
- Join a Medicare Advantage plan (Part C)
- Add a Part D prescription drug plan during the next available enrollment window
Why GEP Matters
Section titled “Why GEP Matters”- Second Chance: Provides you another opportunity to join Medicare if you missed your IEP
- Avoid Gaps: Ensures you don’t go without coverage for another year
- Penalty Risk: If you delayed enrollment without qualifying employer coverage, penalties may apply:
- Part B Penalty: 10% added to your premium for each 12-month period you were eligible but didn’t enroll
- Part A Penalty: Applies if you don’t qualify for premium-free Part A
Example:
If you were eligible for Medicare at 65 but waited until 68 to enroll without employer coverage, you could pay a 30% higher Part B premium for life.
Who Should Use GEP
Section titled “Who Should Use GEP”GEP is ideal for:
- People who missed their Initial Enrollment Period
- Those who don’t qualify for a Special Enrollment Period
- Individuals who want to avoid another year without Medicare coverage
How GEP Fits Into the Bigger Picture
Section titled “How GEP Fits Into the Bigger Picture”- IEP: First chance to enroll (around age 65)
- GEP: Backup opportunity if you missed IEP
- AEP (Annual Enrollment Period): Oct 15 – Dec 7, for making plan changes
- MA OEP (Medicare Advantage Open Enrollment): Jan 1 – Mar 31, for switching Medicare Advantage plans
- SEPs: Triggered by qualifying life events like moving or losing employer coverage
Consumer Takeaway
Section titled “Consumer Takeaway”The General Enrollment Period (Jan 1 – Mar 31) is a safety net for those who missed their Initial Enrollment Period. While it allows enrollment into Medicare, it may come with late penalties and limited options until the next enrollment window.
Planning ahead and enrolling during IEP or SEP is always best, but GEP ensures you don’t go without coverage.
Get Help Enrolling
Section titled “Get Help Enrolling”Connecting with a licensed agent can:
- Discuss Medicare options with you
- Help you understand the different Medicare components
- Compare plans to find the best fit for your budget and needs