If you're dealing with Medicare enrollment in early 2025, you might notice two different enrollment periods happening at the same time. While both run from January 1 through March 31, they serve different purposes. Here's what you need to know.
A crash course in early 2025 Medicare enrollment periods
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General Enrollment Period (GEP)
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Medicare Advantage Open Enrollment Period (MA OEP)
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Dates
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January 1 - March 31
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January 1 - March 31
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Who can use it?
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People who missed signing up for Original Medicare during their Initial Enrollment Period
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People enrolled in a Medicare Advantage plan on January 1
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What can you do?
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Switch to a different Medicare Advantage plan
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Return to Original Medicare
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Add a Part D drug plan (if returning to Original Medicare)
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When does coverage start?
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The first of the next month after you apply
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The first of the next month after you apply
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Can you join Medicare Advantage?
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No
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Yes, but only if you're already in a Medicare Advantage plan
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Can you add drug coverage?
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No
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Yes, but only if returning to Original Medicare
You cannot change your stand-alone drug plan
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Common Mistakes to Avoid
For General Enrollment Period (GEP):
- Don't expect immediate coverage: Remember there's a gap - coverage won't start until the first of the next month
- Watch for penalties: Late enrollment may result in permanent premium increases
- Understand the limitations: You cannot join Medicare Advantage during this time
For Medicare Advantage Open Enrollment (MA OEP):
- Check drug coverage: If returning to Original Medicare, you may need to enroll in a separate Part D plan
- Verify networks: Make sure your preferred doctors are in-network before switching plans
- Consider timing: Changes take effect the next month, so plan accordingly
Important Reminders
- These periods are different from Fall Open Enrollment (October 15 - December 7)
- You must already have a Medicare Advantage plan to use the MA OEP
- The GEP is only for Original Medicare enrollment
- Late enrollment penalties can be significant and permanent
Need Help Making Your Medicare Decision?
Medicare choices can be complex, and making the right decision is important for your healthcare needs. Our licensed insurance agents are here to provide free, personalized guidance to help you understand your options. Contact us today.
Action Benefits : Feb 21, 2024 4:06:21 PM
Action Benefits