What is the enrollment period for a stand-alone Prescription Drug Plan (PDP) or Medicare Advantage-Prescription Drug (MA-PD) plan?

The enrollment period for a stand-alone Prescription Drug Plan (PDP) or a Medicare Advantage-Prescription Drug (MA-PD) plan is the Initial Enrollment Period. This period is significant as it marks the first opportunity for individuals eligible for Medicare to enroll in these plans when they first become eligible for Medicare. The Initial Enrollment Period spans seven months, which includes the three months before, the month of, and the three months following the individual’s 65th birthday or their qualifying event for Medicare.

During this period, beneficiaries can select a PDP or an MA-PD plan without facing any late enrollment penalties that may arise if they delay enrolling after their eligibility begins. It is crucial for new Medicare beneficiaries to understand this enrollment opportunity, as it lays the foundation for their prescription drug coverage and is different from other enrollment periods structured around annual or ongoing enrollment opportunities. Additionally, while other periods like the Annual Election Period allow existing beneficiaries to review and change their plans, the Initial Enrollment Period is specifically designed for those who are enrolling for the first time.