ICEP (Initial Coverage Election Period) is the period in which you can enroll in a Medicare Advantage or Prescription Drug plan for the first time. This period begins three months before you enroll in both Medicare Parts A & B and it ends the last day of the month before you enroll in both parts.
For Medicare Advantage Plans, the last day of your Part B enrollment period is also an opportunity to apply.
If you enroll in Medicare Parts A & B when you turn 65, your ICEP will run concurrently with your IEP (Initial Enrollment Period).
Example:
You turn 65 on March 15th, so your IEP runs from December 1st to June 30th. Your IEP begins December 1st (three months before the month you turn 65) and ends June 30th (three months after the month you turn 65). Your ICEP also runs from December 1st to June 30th.
Example:
You turn 65 on March 15th, your IEP runs from December 1st to June 30th. However, you may choose to not enroll in Medicare Part B during this time. You later enroll in Medicare Part B during the general enrollment period and your Medicare Part B is set to take effect on July 1st. In this situation, your ICEP would run from April 1st through June 30th (the three months before your Part B coverage is scheduled to take effect).
All carriers format their attestation pages differently. There may or may not be an option to select ICEP when selecting the applicable election period. If so, it is best to reach out to our team for guidance to help you select the correct option.
CMS has provided a Medicare Advantage ICEP calculation tool for guidance. This tool is also available on the A3 to assist you with all your needs as a Medicare Agent. If you are not familiar with the A3, our Agency Management System, contact us today to learn more.
(844) 998-7878
Agents@taia.us