So it’s well into the new year and you didn’t sign up for Medicare yet? The Medicare Enrollment period for 2016 ended on December 7. But don’t panic just yet. Though your options may be limited, you can still have receive Medicare Coverage or modify your existing plan for 2016.


If you already have a Medicare Advantage plan, you can still modify your plan though you can only move back to your original Medicare coverage.  You have until February 14 to do change your plan. You cannot switch to another Medicare Advantage plan however. You might want to wait until the next Medicare Enrollment period to do so. Additionally, if you opt for a Medicare Part D insurance plan, you also have until Valentine’s Day to enroll and can start receiving its benefits the following month.


If you didn’t sign up for a Medicare insurance policy at all during the enrollment period, you still have until March 31st to enroll. The government imposes some penalties for late enrollment though which include paying an extra 10% of your premium for 12 months if you choose Medicare Part B plan. What if you were working and insured through your employer all through the Medicare Enrollment period? For you the government set up a special enrollment period that goes up to 8 months after you stop receiving your employer’s insurance.


Navigating the Medicare world may seem daunting but you worked hard for it. Talk to your nearest Medicare insurance agency to discuss your available options.