Hurry, You Only Have a Few Weeks To Make Changes for 2020
Medicare Supplement Open Enrollment Period is a once in a lifetime window that allows you to enroll in any Medigap plan without answering health questions.
The carriers who sell Medicare Supplemental policies cannot deny you coverage if you apply during your Medigap Open Enrollment Period.
Applying outside your 2019 open enrollment window can impact how much you pay for coverage and how easy coverage is to obtain. This window only lasts for 6 months for each new beneficiary, unless you delay enrollment into Part B due to having other creditable coverage.
Medicare Supplement Open Enrollment Period
• Once in a lifetime 6-month window
• Window begins once Part B is in effect
• No health questions during this time frame
• Not the same as the Annual Fall Open Enrollment Period
Your Medigap Open Enrollment Period only happens once in your lifetime and lasts for 6 months
If You Join Outside your Medigap Open Enrollment Period You May Be Denied Coverage
If your open enrollment window has passed, you can always still apply.
However, you’ll most likely have to go through medical underwriting and answer health questions during the application process. Outside your one-time open enrollment period, a carrier can deny you coverage due to pre-existing conditions or health issues.
Why Get Medigap Insurance?
Basic Medicare, which includes Parts A and B, covers most of your primary hospital and doctor expenses.
Unfortunately, “most” does not mean “all.”
Medicare provides standard coverage to every beneficiary, regardless of income. What it does not offer, however, is 100% coverage of your medical costs.
The expenses which Medicare does not cover – sometimes referred to as “gaps” in coverage – are what Medigap insurance protects you from.
Medigap Insurance is a private plan designed to cover the medical expenses where Traditional Medicare falls short of the mark.
Therefore, the more vulnerable you are to the gaps in Medicare coverage, the more you can benefit from the protection of a Medigap policy.
Where Can I Purchase Medigap Insurance?
The truth is that you’ll get the best deal by doing your research and shopping online.
With the power of the internet, you can get more and better offers from several major companies who are all competing for your business. So go ahead and search for Medigap Insurance Companies that can provide you with the insurance that best suits your needs.
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Article sponsored by Ageful