Final answer:
The General Enrollment Period (GEP) for health insurance runs from January 1 to March 31 each year, allowing individuals to enroll in Medicare Part A and/or Part B. Coverage starts on July 1 of the same year and late enrollment penalties may apply.
Step-by-step explanation:
The General Enrollment Period (GEP) for health insurance is a designated timeframe each year when individuals who did not sign up for Medicare during their initial enrollment period can enroll. The correct answer to the question is: a) January 1 to March 31. During this time, those who did not enroll when they were first eligible have another chance to enroll in Medicare Part A and/or Part B.
It is important to note that there may be penalties for late enrollment, and coverage will start on July 1 of the same year. This period should not be confused with the annual Open Enrollment Period for Medicare Advantage and Medicare prescription drug coverage, which occurs at a different time of the year.
Understanding these enrollment periods is critical for ensuring that individuals have the necessary healthcare coverage without incurring penalties. The GEP is one of several enrollment periods defined by the Medicare program to help manage the process of joining or changing Medicare plans.