FAQs
What if I estimate my income wrong?
The IRS is the reconciling department. If you estimate too low, you may have to pay, if you estimate to high, you may get a refund.
When is the annual enrollment period for Medicare?
Oct 15 - Dec 7 Is when you can change your advantage, cost and pharmacy plan for a January 1 effective date.
Can I get an exchange plan at anytime?
No, you have 60 days past the lose of your insurance coverage to get onto the exchange. You can also sign up during open enrollment for a January 1st effective date. Or if a life changing event takes place.
Is original Medicare free, Can I still get Medicare if I am not taking SS?
Part A is no cost if you have paid into social security and Medicare. Part B does have a monthly premium and is billed quarterly when a person is not taking social security.
When is open enrollment?
Annually, November 1- January 15
Is there a penalty for not carrying insurance?
No; be mindful that you will pay back your tax credit if you estimate your income incorrectly.