Starting on January 1, 2023, individuals who have missed their enrollment opportunity due to unforeseen events will be eligible to sign up for Part B without incurring a penalty.
A fresh regulation now permits individuals who failed to enroll during Medicare’s designated period in 2023 due to special circumstances to be afforded an extraordinary enrollment period to maintain uninterrupted health insurance.
The Centers for Medicare & Medicaid Services (CMS) implemented this policy to avoid individuals losing coverage after being dropped from Medicaid. Additionally, this program aims to support individuals who have been incarcerated, affected by a catastrophe, or experienced a mistake on the part of a private insurer.
Previously, CMS did not grant such exemptions. Congress mandated the adjustments, prompting the proposal by the agency back in April.
Elderly individuals may enroll in Medicare Part B in the three months leading up to, including, and following their 65th birthday, or within eight months after leaving their job-based or group health plan. Should they fail to enroll within these specified periods, their premiums will be subject to a surcharge for late enrollment.
