DEFINITION of 'Patent'. A government license that gives the holder exclusive rights to a process, design or new invention for a designated period of time. Applications for patents are usually handled by a government agency.In the U.S. the United States Patent and Trademark Office handles application and documentation.Next Up. government license that gives the holder exclusive rights to a process, design or new invention for a designated period of time. Applications for patents are usually handled by a government agency. In the U.S. the United States Patent and Trademark Office handles application and documentation. Next Up.
Below are more specifics on how the rule works: 1  The time frame to exercise the Birthday Rule is 30 days following your birthday. 2  You can change to another plan, as long as it is of equal of lesser coverage level.  In order to take advantage of this rule, you must already have a Medicare Supplement plan.
For example: If your 65th birthday is October 20, 2014 and you automatically qualify for Medicare, your Medicare effective date would be October 1, 2014. If your birthday is on the first day of the month, Medicare Part A and Part B will be effective on the first day of the prior month. So then, if your 65th birthday is October 1, 2014, your Medicare effective date would be September 1, 2014.