We wanted to send along a reminder that the General Open Enrollment Period to apply for Medicare Part A and/or Part B is January 1 through March 31, 2021. Coverage for those who do enroll will begin July 1, 2021.
Most people enroll in Medicare Part A (hospital insurance) when they turn 65. Some elect to turn down Part B (medical insurance) based on their existing health coverage at the time. You have until March 31 to decide whether enrolling in Medicare Part B this year is right for you, assuming you didn’t sign up when you first became eligible and you’re currently not eligible for the Special Enrollment Period (SEP).
Here’s how to get started:
If you’re currently enrolled in Medicare Part A and only need to enroll in Part B, apply by March 31 using one of the three methods below:
If you are not yet enrolled in Medicare Part A, you’ll need to enroll in that first. Use the online Social Security application, or contact your local Social Security branch office.
If you choose not to enroll during the 2021 General Enrollment Period, you’ll have the same opportunity again this time next year. Remember: it’s a 10% penalty added to your Medicare Part B premiums for each 12-month period you were eligible but didn’t enroll.
Feel free to send this along to anyone who can benefit from this information. If you need guidance or have questions, start with the Social Security website. This resource has excellent information and tools to help you decide what course of action is best for you. If you need additional guidance or want to discuss your options, please contact the office to set up some time. We’re always happy to help!
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Don’t Miss The March 31st Deadline For General Medicare Enrollment!
February 12, 2021