Many people who wish to obtain a supplement plan to Medicare are wondering whether Medigap policies and underwriting will come into play. Due to all of the different enrollment periods that are involved with Medicare it’s no wonder so many people are confused. If depending on your own current situation and time frame is whether or not underwriting will come into play in your decision-making.
Just Turning 65?
For those who are just turning 65 and entering Medicare there is an open enrollment period. During this time frame which is six months from the time of your part B effective dates no medical underwriting will occur when you apply for a Medigap plan. After this six month period however, in almost every case you will need to go through medical underwriting to change plans. This is why it is extremely important for anyone with preexisting conditions to choose wisely when they are first turning 65 as it might be more difficult to switch later on.
Moving From an Advantage Plan?
For anyone who is coming off of a Medicare advantage plan during the annual enrollment period it is very likely that you will have to go through underwriting to qualify for a Medigap policy. The only exceptions are for people who are during their 12 month trial right to try out the advantage plan. If you are in your first 12 months of being on an advantage plan call us to see if you qualify to be guaranteed issue into a Medigap plan and avoid medical underwriting.
Changing Medigap policies?
If you had had a Medigap plan, and are outside your open enrollment period, and wish to change to a different plan or company that you will in fact have to go through medical underwriting. If do not assume that you are going to be declined if you have preexisting conditions, because every company has slightly different underwriting guidelines. This means that although one company might not accept you there still could be an option to change plans and save money. In fact millions of people change plans or companies each year to save money because all Medigap policies and the benefits of each plan letter are identical. Using our free quoting engine on this website will allow you to view rates from some of the top carriers and see if you are paying too much.
Coming off Employer Health Coverage?
If you already have part a and part B coverage and are retiring and coming off employer group health benefits than you may qualify for being in a guaranteed issue period for 63 days from the time your coverage ends. This varies by company and state with a few guidelines however many people do take advantage of this without going through medical underwriting. You will not qualify for every plan letter if that is the case so check with us to see which plans you qualify for. Again if you do have preexisting conditions it is very wise to take advantage of this as you might have difficulty switching later on.
The subject of Medigap policies and underwriting doesn’t have to scare you as insurance carriers realize you might have some preexisting conditions. There is very little risk in trying to change policies to get a better rate so enter your zip code below to get free online Medigap quotes to see if you’re paying too much.