Medicare 2026

Sheridan guide to Medicare Part A and Part B sign-up

# Turning 65 in Sheridan? Your first Medicare decisions, step by…

SHERIDAN, Wyo. — Turning 65 is a big milestone, and it comes with one of the most important deadlines you'll ever have with the federal government: your Initial Enrollment Period for Medicare. Get the timing right, and the transition is smooth. Miss it, and you could face lifelong late penalties or a gap in coverage.

Here's what folks around Sheridan need to know before that birthday arrives.

What the Initial Enrollment Period actually is

Your Initial Enrollment Period (IEP) is a 7-month window built around your 65th birthday. It includes the 3 months before your birthday month, your birthday month itself, and the 3 months after. During this window you can sign up for Medicare Part A (hospital) and Part B (medical) through Social Security.

If you enroll in the 3 months before you turn 65, your Medicare typically starts on the first day of your birthday month. If you wait until your birthday month or after, coverage can start later — sometimes a full month or more after you sign up. That gap is the first mistake people make.

Step 1: Decide if you need to act at 65

Not everyone signs up at 65, but most people should at least check.

• If you're already getting Social Security benefits, you'll usually be enrolled in Parts A and B automatically. Watch your mail for a red-white-and-blue Medicare card.
• If you're not yet drawing Social Security, you need to sign up yourself at SSA.gov or by calling Social Security. Medicare won't come to you.
• If you're still working and have job-based health coverage, you may be able to delay Part B without penalty — but only if that coverage counts as "creditable." Ask your employer's HR office in writing before you decide.

Step 2: Understand the parts

Medicare has a few moving pieces, and Sheridan seniors sometimes mix them up:

• Part A covers hospital stays. Most people pay no premium because they paid Medicare taxes while working.
• Part B covers doctor visits and outpatient care. It has a monthly premium set by the federal government.
• Part D covers prescription drugs. The maximum Part D deductible is $615 in 2026 and $700 in 2027. The annual out-of-pocket cap on covered drugs is $2,100 in 2026 and $2,400 in 2027. The old "donut hole" is gone; drug coverage now has three phases.
• Medigap (Medicare Supplement) helps pay costs Original Medicare leaves behind.
• Medicare Advantage (Part C) is an all-in-one alternative offered by private insurers.

You'll generally choose between two paths: Original Medicare (often paired with a Medigap plan and a standalone Part D plan) or a Medicare Advantage plan that usually bundles drug coverage.

Step 3: Don't skip Part D — even if you don't take medications

This trips people up. If you go 63 days or more after your IEP without creditable drug coverage, you can face a Part D late enrollment penalty that's added to your premium for as long as you have Medicare. It's small each month, but it adds up over the years.

If drug costs are a worry, ask about the new Medicare Prescription Payment Plan, which lets you spread your out-of-pocket drug costs across the year in monthly installments instead of paying big amounts at the pharmacy counter.

Step 4: Know the higher-income rule (IRMAA)

If your income is above certain thresholds, you'll pay a surcharge on top of your Part B and Part D premiums. This is called IRMAA. For 2026, it kicks in above $109,000 in income for a single filer (higher for married couples filing jointly). Social Security uses your tax return from two years ago to decide. If your income has dropped since then — say, because you retired — you can appeal.

Step 5: Look at what's available in Sheridan County

Sheridan is in Sheridan County, where Medicare Advantage and Part D plan choices are set at the county level. The number of plans available can shift each year, so it's worth checking the current list on Medicare.gov's Plan Finder using your ZIP code before making a decision. Star Ratings are one tool for comparing quality, but they're just one factor — your doctors, your prescriptions, and how you like to get care matter more.

After your IEP: the dates to remember

Once you're enrolled, mark these on your calendar every year:

• October 15 – December 7: Medicare Annual Enrollment Period. You can switch plans or change between Original Medicare and Medicare Advantage.
• January 1 – March 31: Medicare Advantage Open Enrollment. If you're already in an Advantage plan, you get one chance to switch to another or return to Original Medicare.