If you're approaching age 65, understanding Medicare enrollment can help you avoid costly penalties and coverage gaps. While many people wait until the last minute to explore their options, it's a good idea to begin the process about six months before your 65th birthday.

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Start Planning Six Months Before Turning 65

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Beginning your Medicare planning six months before your 65th birthday gives you time to:

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• Learn the different parts of Medicare

• Understand enrollment deadlines

• Compare Medicare Advantage and Medicare Supplement options

• Review prescription drug coverage choices

• Determine how Medicare works with employer coverage if you're still working

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Starting early can help you make informed decisions rather than rushing to enroll as deadlines approach.

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Understanding the Parts of Medicare

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Medicare is made up of several parts:

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Part A (Hospital Insurance) helps cover inpatient hospital stays, skilled nursing care, hospice care, and some home health services.

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Part B (Medical Insurance) helps cover doctor visits, outpatient services, preventive care, and medical equipment.

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Part C (Medicare Advantage) is offered by private insurance companies and combines Medicare benefits into one plan. Many plans may also include prescription drug, dental, vision, or hearing benefits.

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Part D (Prescription Drug Coverage) helps cover eligible prescription medications.

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Your Initial Enrollment Period

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Most people become eligible for Medicare at age 65. Your Initial Enrollment Period lasts for seven months:

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• Three months before your birth month

• Your birth month

• Three months after your birth month

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For example, if your birthday is in October, your enrollment window runs from July through January.

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Enrolling during this period can help ensure your coverage starts on time.

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Medicare Late Enrollment Penalties

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Missing certain enrollment deadlines may result in penalties that can last for many years—or even for life.

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Part B Penalty

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If you delay enrolling in Medicare Part B and do not have creditable employer group health coverage or qualify for a Special Enrollment Period, you may pay a higher monthly premium for as long as you have Part B coverage.

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Part D Penalty

If you go without creditable prescription drug coverage for an extended period after becoming eligible, you may owe a late enrollment penalty when you eventually enroll in a Part D plan.

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Because these penalties can be long-lasting, it is important to understand your enrollment timeline before your 65th birthday.

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Still Working Past Age 65?

If you have employer health coverage, your Medicare options may depend on the size of your employer and whether your coverage is creditable. If your employer has fewer than 20 employees, Medicare may generally become your primary coverage at age 65, so it's important to review your options before enrolling.

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Review Your Options Before You Enroll

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Every person's situation is different. Whether you're retiring, continuing to work, or already receiving benefits, taking time to understand Medicare can help you make confident decisions about your healthcare coverage.

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Beginning your Medicare planning six months before turning 65 allows you to review your options, understand important deadlines, and avoid penalties that could increase your costs in the future. penalties that could increase your costs in the future.