Buying Medicare supplement plans referred to as Medigap policy is essential on becoming eligible at the first time. In fact, this is the right time to buy, especially during the open enrolment period of 6-month period. This is the time you can purchase the insurance plans available in your state. This period is considered the right time as regardless of your health issues, the policies are given. Automatically this period initiates from the month you are 65 and are Part B Medicare enrolled. After the period of enrolment, you cannot buy a Medigap policy and even if you attempt buying one, you will end up paying more.
Medicare supplement plans sold by private insurance companies are allowed to use the medical underwriting to know whether they can accept your application or the amount to charge for the insurance policy. Nevertheless, even in case of your health problems, during the open enrolment of Medigap you are allowed to buy any policy that is sold by the insurance company at the same price same as the good health people.
Beyond open enrollment
In case you apply for Medicare supplement plans coverage after the period of open enrolment, there is no assurance that an insurance company will agree to sell a Medicare plan to you. In fact, they may demand medical underwriting to prove you are eligible in situations such as:
- Some states allow buying another policy of Medigap such as Medicare Select.
- You also can change in a period of 12 months from Medicare Select and choose the standard Medigap policy.
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- The process of buying Medicare supplement plans is easy. All you have to do is fill carefully an application and should include the medical questions. The eligibility is determined on the basis of your answers for open enrolment.
- Filling the application may also be done by the insurance agent, if so; check he has done it correctly.
- The insurance company is not permitted to ask questions regarding the history of your family and there is no need for a genetic test.
- In case during the open enrolment period, you purchase Medigap policy, the insurance company will not deny or change price to issue you a Medigap policy, regardless of the medical answers you give about your health.
- Providing evidence of being at a liberty to guaranteed issue right indicates none of your medical answers can be used by the insurance company to deny you a policy.