Are you aware of the Medicare Supplement Plans enrolment period, what are the advantages and how you can get that you want without restrictions or limitations?
Most states in the United States have Open enrollment period at specific times. This is a period that starts from the month and day you are 65 and is a 6 month period, but you must have been Part B Medicare enrolled.
If you have lost the health plan employee sponsored in the recent 6 months or your health insurance was concluded and now you are 65 or older, it means the insurance company may not consider any of these owing to your health issues:
- Refuse to sell Medigap policy
- Charge you high for a Medigap policy than others having no health issues
- Make you wait to start the coverage
If you are over 65 years and now even the open enrollment period is not applicable does not block you entirely. You can apply for Medicare Supplement Plans, but after answering to some questions to be accepted.
The insurance company is not permitted to keep you waiting to start for coverage in case you are qualified for the guaranteed acceptance, but it has the right to keep you waiting for pre-existing related condition coverage.
A pre-existing condition refers to health problem that you already have prior to the new insurance policy starting date.
At certain times, the insurance company offering Medigap plans can refuse to cover the costs of out-of-pocket for the pre-existing health issues for a period up to 6 months. This is referred as ‘pre-existing condition waiting period’. However, the Medigap policy after 6 months will cover your condition of pre-existing.
Pre-existing condition coverage in Medicare Supplement Plans can be excluded if the condition was diagnosed or treated in the 6 months period, prior to the date of the waiting period existing condition. If so, the excluded cover will be covered by the Medigap policy.
Bear in mind, Original Medicare will be covering the condition, in case the Medigap policy does not cover the costs of out of pocket, but in that event, you become responsible for the copayment or coinsurance of the Medicare.
Medicare Part A and B, with Medicare supplement plans will cover all or most of your medical costs except the prescription drugs. So, buy Medicare supplement Plans policy to enroll in Medicare Part D, a Prescription Drug Plan.