Medicare Initial Coverage Enrollment Period
Turning 65? Medicare eligibility begins the first day of the month of an American's 65th birthday or through qualified disability. American citizens and spouses, legal residents who have worked in Medicare-covered employment for at least ten years qualify. Part A automatically begins, as does Part B unless the beneficiary contacts Social Security to postpone enrollment.
Initial Coverage Enrollment Period (ICEP) provides new beneficiaries ample time to review and chose from any supplement or Medicare health plan approved for sale within their geographical area. Choosing options during this period is very important because certain rules only apply at this time. Medicare beneficiaries have guaranteed acceptance to any Medicare health plan or supplement and cannot be turned down for health reasons. Prescription Drug Plan coverage must be chosen to avoid penalty, or inability to purchase a plan outside of the annual enrollment period (November 15 through December 31).
For those eligible at age 65, the initial enrollment period begins three months before the 65th birthday, includes the age 65 birth month and ends three months after that birthday. For example: 65th birthday is in May 2010. The initial coverage enrollment period would run from February 2010 to August 2010.
For those eligible for Medicare based on disability or permanent kidney failure, the initial coverage enrollment period depends on the date of disability or when treatment began. Specifically, you become eligible at the 25th month of your receiving SSDI (Social Security Disability Insurance.)
ICEP offers the greatest number of options and opportunity. Be sure to consult with a certified, licensed representative to help find the appropriate plan.
This Web site is intended for general information purposes only. It does not nor is it intended to constitute legal, tax or investment advice. Alliance America is not a lawyer, registered investment advisor or investment advisor representative, and is not engaged in the practice of law or the business of investment advice.