Your Initial Enrollment Period, at a Glance
Turning 65 triggers your Initial Enrollment Period (IEP) — a 7-month window that starts 3 months before your birthday month, includes your birthday month, and runs 3 months after. Enrolling within this window (or having creditable employer coverage that lets you delay without penalty) is the single most important thing to get right, since missing it can mean permanent late-enrollment penalties on Part B and Part D.
The Checklist
1. Confirm whether you need to actively enroll. If you’re already receiving Social Security benefits, you’re typically enrolled in Part A and Part B automatically. If not, you’ll need to sign up yourself through Social Security.
2. Decide: Original Medicare or Medicare Advantage. This is the biggest structural decision — network flexibility and predictable costs (Original Medicare, often paired with Medigap) versus bundled extra benefits and an annual out-of-pocket cap (Medicare Advantage).
3. Line up Part D coverage. Whether you go with a standalone Part D plan or a Medicare Advantage plan that includes drug coverage, make sure you have creditable prescription drug coverage from day one to avoid a late-enrollment penalty later.
4. Check your current doctors and medications against any plan you’re considering. Confirm your doctors are in-network (if choosing Medicare Advantage) and your specific medications are on the plan’s formulary at a cost you’re comfortable with.
5. Consider a Medigap policy if going with Original Medicare. Medigap open enrollment — a 6-month window starting when your Part B coverage begins — is generally the best time to buy a Medigap policy without medical underwriting.
6. Check costs for the applicable year. In 2026, the standard Part B premium is $202.90 per month and the Part B deductible is $283. The 2026 Part D standard deductible is up to $615, and the annual out-of-pocket threshold is $2,100. For 2027, CMS finalized a defined standard Part D deductible of $700 and an annual out-of-pocket threshold of $2,400; see the 2027 CMS Rate Announcement. These are standard-benefit figures, not a quote of every plan’s costs. Premiums, formularies, and plan cost-sharing vary.
7. If you are reviewing coverage for 2027, the Annual Enrollment Period runs October 15–December 7, 2026. Changes made during this period generally take effect January 1, 2027.
Don’t Wait Until the Last Month
The IEP gives you room, but plans, agents, and enrollment systems all see a rush of activity as people approach the far end of the window. Starting the process a couple of months before your birthday month gives you time to compare options without pressure.
If you want a more structured, self-paced walkthrough of the basics before you dive into the checklist above, our free course at LearnMedicare.org covers the fundamentals step by step.
Have questions? Schedule a free review with Kayla Price, a licensed insurance agent at Price Services Group. Call 866-648-1578 or visit priceservicesgroup.com/schedule.
Price Services Group, LLC is not affiliated with or endorsed by the U.S. government or the federal Medicare program. NPN: 18530055 | Agency NPN: 20387435