Did You Forget to Sign Up for Medicare?

If you don’t sign up for Medicare when you’re first eligible, and you don’t qualify for a Special Enrollment Period, you may have to wait until the Medicare General Enrollment Period to enroll.

Author:: Robert Powell, CFP®
Publish date:: Jan 12, 2021

Did you sign up incorrectly in Medicare? Or did you forget to enroll during your Initial Enrollment Period?

Well, don't despair.

You're not alone. "It's become very complicated to enroll correctly in Medicare," said Jae Oh, author of Maximize Your Medicare.

According to Medicare.gov, if you don’t sign up for Part A (if you have to buy it) and/or Part B when you’re first eligible, and you don’t qualify for a Special Enrollment Period, you may have to wait until the Medicare General Enrollment Period (from January–March 31) to enroll and coverage will start July 1 of that year.

In most cases, you’ll have to pay a late enrollment penalty for as long as you have Part B if you sign up during the General Enrollment Period.

Those who find themselves without health insurance until July 1 could look into a short-term health insurance plan. Carries, however, are "very reluctant to issue plans to those who are above 65," Oh said.

Additional resources

Enrolling in Medicare Part A & Part B

Medicare & You