Key Takeaways
- Missing an enrollment period can lead to lifelong penalties.
- Key periods include the IEP, AEP and SEP.
- Each period has its own rules and deadlines.
An enrollment period is a defined window during which you may join, switch or drop Medicare coverage. The main ones are the Initial Enrollment Period around your 65th birthday, the Annual Enrollment Period each fall, and Special Enrollment Periods triggered by life events.
Because enrolling late can create permanent penalties, knowing which window applies to you is essential.