Medicare Supplement insurance plans, also called Medigap, help pay for deductibles and coinsurance that Original Medicare‡ doesn’t cover.
What you should know about Medicare Supplement:
Every company offering Medicare Supplement insurance must offer Plan A. In addition, companies may have some, all, or none of the other plans. Plans are standardized, so different companies all offer the same benefits, but the premiums do vary based on a number of factors.
Although private insurance companies are required to offer the same benefits for each lettered plan, they do have the ability to charge higher out-of-pocket costs for this coverage.
When can you Enroll in Medigap?
If you already have Original Medicare Parts A and B, you can sign up for a Medicare Supplement plan during the six-month open enrollment period that begins the month you turn 65. You cannot be rejected a coverage during this Medicare Supplement open enrollment period on the basis of prior or present medical issues. Some states provide a plan(s) to persons under 65 who are eligible for Medicare for reasons other than age, whereas some states do not permit health underwriting.
Is it possible to switch my Medicare Supplement Policy?
Yes. People with Medicare Supplemental Plans may switch anytime but may face some restrictions if one doesn’t have guaranteed-issue-right outside One time Enrolment period (OEP). To change policy, one must apply for a new plan. Once accepted, your present insurance company must be notified to cancel the current coverage.
Medicare Supplement for People with Disability under 65
If you are under 65 and qualified for Medicare due to disability or End Renal Stage (ESRD), your eligibility for Medicare Supplement Plans depends on your location. Rules governing the availability of Medicare Supplements vary from every state. Though the federal law states Medicare supplement guaranteed-issue proper protection for beneficiaries, it is not required that Medicare Insurance carriers must sell Medigap plans to people under 65. Mainly, due to higher posted risk and lesser competition, the cost of the plans may be higher, and there are chances for coverage to be denied due to pre-existing conditions. It is better to visit first the insurance board’s website to review your rights as a beneficiary.
Let us find a Medigap Policy that works for you.
*By completing this form, you agree that an authorized representative or licensed insurance agent may contact you by phone,email,text, mail or face to face to answer your questions or provide additional information about your Medicare plan options. Not affiliated or endorsed by Medicare or any state or federal governmental agency.