Medicare Initial Enrollment UPDATES for 2024, what are they? Watch the video to learn more!
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Timeline:
00:43 - in 2023 – there was a change to IEP
00:51 - What is IEP (Initial Enrollment Period)?
00:58 - IEP = 7-month period when someone is 1st eligible for Medicare
01:42- Definition of IEP = 7-month period when someone is 1st eligible for Medicare.
02:15 - 7-month window = 3 mons prior to b-day mo, b-day mo, and 3 months after b-day month
02:40 – one exception = if your birthday is the 1st of the month
03:41 – Enroll 3 mos prior to b-day, effective date = 1st of the month that you turn 65
03:57 – OLD RULE: if you enroll after your birthday month…
04:56 – Old rule is confusing and dumb!
05:01 – NABIP (National Association of Benefits and Insurance Professionals) helped change this rule!
05:24 – Effective date no longer delayed! YAY!
05:38 – IMPORTANT NOTE: New Rule is Absolute rule!
05:57 – Why is this important?
07:06 – Timing is key!
07:46 – Options if you don’t get Medicare enrollment in time.
07:54 – Begin your initial enrollment at the START of the 7 months.
8:14 – New Rule IEP affects people enrolling in the LAST 3 months of IEP.
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