A Medicare Special Enrollment Period (SEP) is a trigger-based window that allows people to enroll in or change Medicare coverage outside standard timeframes, preventing coverage gaps and avoiding late-enrollment penalties.
The Annual Medicare Enrollment Period (AEP) is the yearly window when beneficiaries can change Medicare coverage, compare plan costs, and select options that align with their healthcare needs and budgets.
Effective retirement planning requires integrating Medicare—the federal health insurance program for those 65 and older—with a comprehensive budget for healthcare expenses.
Becoming eligible for Medicare at age 65 marks a major transition in your healthcare journey, and missing key deadlines can trigger costly penalties.