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Medicare Part D Enrollment: When Can I Get a Prescription Drug Plan?

part d prescription drug plans are a big

part of your medicare enrollment

but when do you enroll into these plans

and when can you change them

today i'm gonna go over the enrollment

periods for medicare part d

prescription plans when you can first

enroll as well as when you can change

your plan so stay tuned

[Music]

hi i'm jamie banner and i'm the founder

of medicare by jamie

i'm a licensed insurance agent that

works specifically with people enrolling

into medicare

and today i'm going to talk to you about

medicare part d

which is your prescription drug plan so

when you do your medicare enrollment

there's a few different parts to think

about it's medicare part a

medicare part b a medicare supplement

plan

and your part d drug plan and

medicare not only separates all these

parts of medicare but they're actually

different enrollment periods based on

which part of medicare you need to

enroll in

so i'm going to talk about the different

part d enrollment periods when you can

first join a drug plan when you can drop

a drug plan and change your drug plan

because you can change them every year

before we get started if you find the

information in this video helpful i'd

appreciate it if you give it a thumbs up

and subscribe

and leave a comment down below and we

can dive right in

so when we first start looking into part

d drug plans a great place to start is

going to be the medicare new buyers

guide

this guide details all the parts of

medicare to know in terms of timelines

definitions and everything you might

think you need to know is gonna be in

this guide

because it's put out by medicare i've

got a video where i go through a

huge chunk of the book i'm gonna link it

down below

but we'll look specifically at the part

on part d drug plans

and more specifically when you can

enroll in them

so you can see the first line is you can

enroll in a part d drug plan

during your initial enrollment period so

when you turn 65

you're granted an initial enrollment

period to get your medicare

part a b supplement and d started

so if you're not on employer insurance

or you're coming off you're retiring

and you want to get into medicare as

soon as you can that's your initial

enrollment period

and it is a seven month period

surrounding your 65th birthday

so it's three months before your 65th

birthday includes the month of your 65th

birthday

and ends three months after your 65th

birthday so if you are starting medicare

fully at age 65 this is when you will

first enroll in a medicare

part d prescription drug plan so you'll

want to have it set up to start

at the same time your part b starts same

time yourself man starts

have no lapse in coverage so like i said

if you're turning 65 this is your first

chance to enroll in medicare part d drug

plan

but not everyone joins medicare at age

65.

so the next scenario that the medicare

new guidebook points out

is the general enrollment period so the

general enrollment period is going to be

for someone who did

not do their medicare enrollment at 65

but also didn't have

any other creditable health insurance so

maybe you didn't have insurance you were

on

cobra coverage or retiree coverage and

the plans

ended and now you have to enroll into

medicare you're going to come in

during the general enrollment period and

this period is when you can start your

part b

and the first thing you're going to do

is apply for part b so between

january 1st and march 31st is the

general enrollment period

where you can do your part b application

and your part b

coverage is going to begin on july 1st

so you apply in the first three months

of the year but coverage will always

start july 1st for the general moment

period

that's part b what about part d

so part d happens pretty much right

after

so for your part d enrollment during the

general enrollment period

you're going to apply in the next three

months so you're going to apply from

april 1st through june 30th and again

just like your part b your part d is

going to start july 1st

so you've got three months to apply for

part b three months to apply for part d

but they will start on the same day

again this is for someone who didn't

have credible health insurance so you're

coming into medicare maybe age

67 68 and didn't have what medic

character to be active

credible coverage like an

employer-sponsored health plan

the next period that the medicare new

guidebook makes reference to is the

annual election period

also known as open enrollment so the

annual election period takes place every

year from october 15 through december

7th

so it's the very end of the year where

you can make changes to your

prescription drug plan

for a new plan to take effect january

1st so starting october 15th you can

reassess your drug see if one of your

medications has changed has gone up in

price has gone

down in price if the premium on your

plan has changed whatever it is

you can apply for a new drug plan for

effective the next year

so start the new year on a clean foot

with your prescription drug plan

there's also a time period where if you

had never enrolled in a part d

plan maybe you weren't taking any

prescriptions and you didn't want to

pay you know 13 a month for a plan you

can pick up a drug plan

now there will be a late enrollment

penalty if you've never had a drug plan

i've got a video where i explain how

that penalty works and again i will link

it down below

but this is the time period you can add

change or drop a prescription drug plan

every single year there is no medical

underwriting for part d

plans so it's always a good idea to kind

of reassess your drug coverage

during this time frame now if you're in

a medicare supplement plan

although you can change your part d plan

during this time period

you have to still go through medical

underwriting for a medicare supplement

plan

and that's what i do i assist people in

finding the very best medicare

supplement plans you can always give me

a call my number is 83365jme

or you can visit my website

medicarebyjamie.com and i'd be more than

happy to walk you through all the steps

associated with

getting your medicare recovered started

on the right foot and there's absolutely

no cost to you to work with me

so the last period we're going to talk

about it's kind of tiny at the bottom

it's going to be the special election

period so let's go a little bit further

so if you are coming off an

employer-sponsored health plan to what

medicare is to be

creditable coverage you will qualify for

a special enrollment period when you do

decide to retire and leave that plan

so you're coming off your employer plan

you're in transition right into medicare

no penalties without a hitch as long as

you have that credible health care

coverage so that means that once you

come off your employer plan

you're going to enter your special

enrollment period and you're going to

have

63 days from the end of your employer

coverage to start the part d

plan now that's a really important

figure to remember because

when your employer coverage plan ends

you've got eight months to initiate your

medicare part b

but for part d drug plans you only have

63 days

so definitely don't wait out those eight

months and try to start both at the same

time

because you're gonna realize that you a

probably can't start your part d unless

you're in open enrollment and if you do

you're gonna have a late penalty so

you've got 63

days from the end of your credible

coverage to get started in a medicare

drug plan

i hope you found the information in this

video helpful talking about exactly when

you can initiate your drug coverage or

change your drug coverage

any questions you can always call me my

number is eight three three six five

jamie we can also visit my website

medicarebyjamie.com

if you stay tuned i'm gonna give you a

tour of my website and show you exactly

how to request a free

medicare supplement quote there's no

cost to you to work with me

go over everything you need to know

about medicare

part d all the applications to make sure

that you

have the easiest journey into medicare

as possible because

it's not as hard as it sounds as long as

you've got the right information

again if you found the information in

this video helpful i'd appreciate it if

you give it a thumbs up and subscribe

and leave a comment down below

thanks for watching

[Music]

hi i'm jamie banner the founder of

medicare by jamie

i'm going to give you a quick run

through my website so you can easily

navigate and find

all the important links and information

i provided for you

so when we get started we're going to be

right on the home page and the first

thing you can see is you can request

a medicare supplement plan quote and

that's what i do

i assist people in finding the best

medicare supplement plan options for

them

so if you go ahead and put your zip code

in there and a couple other basic

pieces of information i can get you the

best supplement plan quote

in your area once we get away from there

and we go up to the top we can see the

resource center

so if we click on the resource center

we've got a couple options under there

the first one is going to be video

library so when we click there it's

going to take you to a page that shows

you

all of my youtube videos so all my

videos will be on there along with their

titles so you can easily kind of search

through them

and see what video you're looking for

based on your current needs

there's also a button up there that says

subscribe to youtube

so that will take you straight to my

youtube channel where you can subscribe

comment do whatever you need and find

all the videos you need

when we go back to the resource center

the next link is going to say

important links and that's going to be a

ton of different hyperlinks that

give a lot of information like finding

doctors that take medicare

maybe filing a claim if you had

something lots of different things that

can take you out

to show you things you can do for

medicare and the last section is going

to be guides and forms now this one is

really important

i've listed a ton of forms that are

going to be very important for medicare

stuff like employer coverage forms if

you're still working past 65

irma appeal forms maybe if you need to

check your part b premium based on your

income

i have all that here plus a lot of

different informative

pdfs that's going to give you as much

information as you need

in medicare because that's what we want

we want you to be completely educated on

everything medicare related

so you can make the best and most

informed decision

i've also got it up here where

everything is divided into categories so

if you need to find something a little

bit faster

just click one of these categories and

it's going to narrow it down to things

involved

in that section again if you have any

questions you can always call me my

number is 83365 jamie

you can also email me at jamie medicare

by jamie.com

or you can go to the website and hit the

contact us button and you can send me a

little information

i hope you found this video helpful and

thank you for watching