All Medicare beneficiaries are eligible to buy a Medicare supplment plan.
When they turn 65, most Americans enroll in Medicare for their health insurance coverage. Medicare does not cover all health care needs, though, and some beneficiaries choose to enroll in a Medicare supplement, or Medigap, plan to cover services that Medicare doesn't pay for. Medicare supplement plans are sold by independent insurance companies, and you must meet certain eligibility requirements to enroll.
Open Enrollment Period
You are eligible to enroll in Medicare beginning three months before you turn 65, and for four months after your birthday, as long as you enroll in Medicare Part B. During this open enrollment period, you can enroll in any Medigap plan that you choose, and the insurance company cannot turn you down if you have health problems or charge you a higher premium than healthy people. If you defer enrolling in Medicare Part B because you have coverage through an employer's health plan, your open enrollment period begins when you enroll in Part B, even if you are over age 65.
Non-Guranteed Issue Medicare Supplements
Although you can technically enroll in a Medigap policy at any time after you turn 65 and enroll in Medicare Part B, if you enroll in a Medicare supplement policy outside of the open enrollment period, insurance companies can use medical underwriting to determine whether to sell you the policy. You may have to answer questions about your health or visit a doctor for a physical before you can apply for coverage, and the insurance company can deny your application or charge more based on your health. Therefore, it is in your best interest to enroll in a Medicare supplement as soon as you are eligible.
Buying Medigap Outside of Open Enrollment
In some cases, you can purchase a Medicare supplement policy outside of your open enrollment period and not have to undergo medical underwriting. If you have health insurance coverage or COBRA in addition to Medicare, and that coverage is ending, you can purchase Medigap for 63 after that coverage ends. In addition, if your Medigap insurance policy goes bankrupt, the coverage ends through no fault of your own or you were misled by a company or agent, you can switch policies.
Medicare Advantage and Medicare Supplement Plans
If you are enrolled in a Medicare Advantage plan and want to switch to a Medicare supplement, in some special circumstances you can do so without underwriting. If your Medicare Advantage plan is leaving Medicare or your area, or you move, you have up to 63 days to purchase a Medigap policy. If you enrolled in a Medicare Advantage plan when you were first eligible for Medicare Part A, and have been in the policy for less than a year, you can switch to a Medigap plan without penalty. You can also switch if you dropped a Medigap plan to enroll in a Medicare Advantage plan less than a year ago, and want to switch back. In all of these situations, limitations and restrictions may exist to which policies you can purchase, and you only have a limited amount of time to make the change.
Tags: enroll Medicare, Medicare Advantage, Advantage plan, Medicare Advantage plan, Medicare Part, Medigap plan, open enrollment period
