1. Know that the open season for Medicare enrollment is every year between January 1^st and March 31^st.  During this period you can sign up for Medicare Part B in a variety of ways based on how you qualify for the Medicare coverage in the first place.  Don’t take your Medicare enrollment lightly, it will affect your life.
2. The cost of Medicare Part B will go up 10% for each full 12-month period that you could have had Medicare Part B but didn’t take it, except in special cases. You will have to pay this penalty as long as you have Medicare Part B.  This makes Medicare enrollment even more important, who has 10% to waste every month?
3. If your spouse is still working you don’t have to do your Medicare enrollment during the open season.  You can do your Medicare enrollment once your spouse quits working as part of the life change provision.

The “General Enrollment” period for Medicare Part B is from January 1^st to March 31^st every year and those who enroll during this time will have to pay a penalty.  Enrolling in Medicare Part B at this time will allow you to start using the benefits of the coverage on July 1^st of the same year.

The rules for “Special Enrollment” for Medicare Part B are quite complicated so who better than Medicare to explain it to you directly.

“If you wait to sign up for Part B because you or your spouse is currently working, and you are covered by a group health plan based on that work, or if you are disabled and you or a family member is working, and you are covered by a group health plan based on that work. You can sign up for Part B anytime while you have group health plan coverage based on current employment or during the 8-month period that begins the month after the employment ends, or the group health plan coverage ends, whichever happens first. If you have COBRA coverage, you must enroll during the 8 month period that begins the month after the employment ends. This Special Enrollment Period doesn’t apply to people with End?Stage Renal Disease (ESRD).”

If you don’t enroll in a plan during Medicare enrollment you will automatically be enrolled in “Original” Medicare.  Here is what you should know about original Medicare:

1. You have the right to go to any doctor that you so choose if you choose to go with Original Medicare during Medicare enrollment.
2. If you do not enroll in Medicare Part D during Medicare enrollment you will not have any coverage for prescription drugs.
3. You do not have to choose a primary care doctor or get a referral to see a specialist if you choose Original Medicare during Medicare enrollment.
4. If you don’t have another source of insurance to go along with Original Medicare then you may want to sign up for supplement insurance to go along with your insurance during Medicare enrollment.

Here are a few things to consider when going through Medicare Enrollment:

What You Need Covered: If you are already suffering from some lingering ailments it is worth it to you to make sure that you have the right coverage on your Medicare policy.

Other Coverage: If you intend on supplementing your Medicare policy with other coverage from another insurer then be sure to speak about this with your insurer before going through Medicare enrollment.

How Much Can You Afford: Like any other insurance policy it is very important that you consider how much your premiums and deductibles will be when going through Medicare enrollment to make sure you can afford your coverage.

Are You On Prescription Drugs?  If you need a constant supply of prescription drugs then you need to look into getting the coverage on your Medicare policy when going through Medicare enrollment.

Is Your Doctor Covered?  It is all well and good to have the coverage you think you need, but if you can’t go to the doctor you trust then you failed in your Medicare enrollment.

For those who don’t know, Medicare Part D is the part of Medicare that deals with prescription drugs, offering a chance that otherwise may not be available to help pay for drugs.  In 2009 the plans start at around $31.94 and are attached to a yearly deductible that will be $310 for 2010.

According to the Henry J. Kaiser Foundation, the premiums for Medicare Part D will rise about 11% in 2010 which will put them at roughly 50% higher than they were in 2006.  Considering that 2006 was the first year that Medicare Part D was offered the reasons for considering where you stand with your Medicare enrollment becomes abundantly clear. 

The experts say that Medicare enrollment for 2010 will list roughly 1,576 options to those who are eligible.  Region-by-region Medicare enrollment will give between 41 and 55 different options to those who qualify and will be enrolling.  All the more reason to really look into what appeals to you and your situation.

Policies will, of course, vary by available plans, coverage, and price. Therefore, before enrolling, make sure you spend time researching the plans and providers available to you, and choose the one that best fits your needs and budget. After you’ve selected the plan and company you are going with, it’s time to apply.

To apply, contact the company directly. They are required to provide you with a coherent summary of your policy, so spend some time reading it and ensuring that you understand it. If you don’t, feel free to ask as many questions as you need to ask. Never sign anything without knowing exactly what you are agreeing to. Once you’ve read the summary and are certain you understand it, fill out the application fully. Be as truthful and thorough as possible. If someone else fills your form out for you, go over it and make sure it is completely correct.

After applying, your policy will usually start the first month after you apply. You can request a specific start date if you like as well. If you don’t get your policy within 30 days you should definitely call the insurance company, and if you still haven’t gotten in within 60 days, you should call the State Insurance Department in your area.

When you pay for your Medigap policy, you can use a bank draft, a check, or a money order. Don’t make your payment out to the agent who was helping you with your enrollment. Rather, make it out directly to the company providing you with your coverage.

If you have the Original Medicare Plan, you may choose to enroll in a prescription drug plan to add coverage.  You can also enroll to add coverage to certain Medicare Private Fee-for-Service Plans, certain Medicare Medical Savings Account Plans, and certain Medicare Cost Plans.  Another way to gain Prescription drug coverage is to choose a Medicare Advantage Plan that includes this drug coverage.

When you enroll in a drug plan, you will usually pay considerably less for your prescriptions, although you will sometimes be required to cover copayments, coinsurance, or deductibles.  The overall cost of your plan will depend on a number of factors, such as whether or not you are eligible for extra help, if you are willing to forgo brand-name drugs, what type of drugs you require, the quantity of medication you need, what your plan coverage gap is, and, ultimately, what prescription drug plan or provider you choose.

To enroll in a prescription drug plan, you may want to call the plan directly.  That way, you can ask them any pertinent questions you may have about the plan you’ve chosen.  You can also call Medicare for assistance, at 1-800-633-4227. 

If you fail to sign up during your initial enrollment period, and if you don’t have prescription drug coverage for 63 days or more, you will likely be responsible for a permanent late-enrollment penalty when you later join. The late-enrollment penalty changes each year, and will be charged to you for the duration of your drug coverage.

To figure out roughly how much your penalty will be, take 1% of the “national base beneficiary premium” and multiply it by the number of the full months you didn’t join when you were eligible. The amount will be added to your drug plan monthly premium.

If you didn’t sign up for a Medicare Prescription Drug Plan when you were first eligible and you’d like help figuring out what your late-enrollment penalty will be, there are some sources available to you. You can call 1-800-MEDICARE for help, or contact your State Health Insurance Assistance Program.

In many cases, you will need to pay your Part B premium in addition to your Medicare Advantage Plan premium.  It’s also essential that you follow your plan’s specific rules and are aware of necessary out-of-pocket costs, like deductibles and copayments.  

Sometimes, depending on the plan or company you choose, you might be required to use specific health care providers, belonging to the plan’s network – or be charged a higher fee if you don’t.  If you enroll in an Advantage Plan, you won’t be able to buy a Medigap policy – and you won’t really need one, either.

When you join a Medicare Advantage Plan, you are, of course, still in the Medicare Program.  Advantage Plans, although run by private insurance plans, still follow Medicare rules, are approved by Medicare, and receive funding from Medicare. They are not even considered supplemental insurance plans – they are a part of Medicare.  Consequently, when enrolled in a Medicare Advantage Plan, you have Medicare rights and protection, including privacy rights and the right to appeal.  You also will still receive Medicare Parts A and B, and can usually get prescription drug coverage through your Medicare Advantage Plan. It is important to note that you can’t join a Medicare Prescription Drug Plan with most Medicare Advantage Plans unless you cancel your Medicare Advantage Plan and sign up instead for Original Medicare. Signing up for a Medicare Advantage Plan also often affords you other optional benefits, such as dental or vision.   

To enrol in a Medicare Advantage Plan, fill out an application, call the plan, or visit them online.  

Starting January 1^st and running until March 31^st each year, the General Enrollment Period is the next best thing.  When you sign up during the General Enrollment Period, your coverage will start on July 1^st. The drawback for waiting until the General Enrollment Period, of course, is that you may be responsible for paying a late-enrollment penalty.  Unfortunately, you might need to pay the late-enrollment penalty for as long as you have the plan. 

Another time you might be able to enroll is during a Special Enrollment Period.  You may be eligible for a Special Enrollment Period if your or your spouse have a group health plan based on your current work.  You can then sign up for Part B at any point during your workplace coverage or in the eight-month period that starts when the employment (or group health plan coverage) ends.  Finally, if you didn’t enroll in Medicare Part B during your initial enrollment period because you were volunteering in a foreign country and already had health insurance for that reason, you may qualify for a Special Enrollment Period For International Volunteers.  Usually, when you are enrolling during a Special Enrollment Period, you won’t need to worry about a late-enrollment penalty.

While there are, then, ways for you to enroll in Medicare Part B outside of your initial enrollment period, the optimal time is, of course, when you are first eligible.