Modifications are on the horizon for Medicare Part B in the upcoming year.
What remains constant:
Your Initial Enrollment Period (IEP) when turning 65 is still:
– Starting three months prior to your 65th birthday.
– Including the month you turn 65.
– Concluding three months subsequent to your 65th birthday.
For those who automatically enroll, or who register during the initial trio of months of your IEP, Medicare Part B benefits kick off the month you’re deemed eligible. If you enroll in the month you reach 65, benefits activate on the first day of the succeeding month. The forthcoming alteration does not affect this aspect.
What will be different:
Starting January 1, 2023, when you enroll in the concluding trio of months of your IEP, your Medicare Part B benefits will initiate on the first of the month after registration. Previously, there was a delay of two to three months post-enrollment before Medicare Part B benefits commenced. Annually, if you didn’t enroll during your IEP, you have the option to register during the General Enrollment Period (GEP), which spans from January 1 to March 31. Commencing in 2023, benefits from your registration during GEP will go into effect on the first day of the month subsequent to your registration.
