When Is The Best Time to Sign Up for Medicare Supplemental Insurance?

Are you currently enrolled in Original Medicare Part A and Medicare Part B?  If yes, you will notice that there are instances in your coverage where you must pay out of your pocket expenses. For example, coinsurance, copayments, and deductibles are some of the expenses that you must pay out of your pocket. This is where Medicare supplemental insurance comes in. Medicare supplemental insurance, also known as Medigap, works together with Original Medicare insurance coverage to help fill in some of the gaps. So, when is the best time to sign up for Medicare supplemental insurance cover?

You are eligible for Medicare supplemental cover if you are already enrolled in the Original Medigap coverage Part A and Part B. However, if you are under the age of 65 and still have the original cover and are not suitable for the enrollment in Medigap supplemental coverage the law does not allow states to offer the supplemental cover to people below the age of 65 unless they have disabilities or certain medical conditions. Therefore your eligibility to Medicare supplemental coverage depends on the state you live in and the federal Medicare insurance plan you are enrolled in.

The best time to sign up for the Medicare supplement insurance coverage is during your open enrollment period.  This period starts on the first day of the month in which you reach 65 years or older and that you are enrolled in Medicare Part B. It is essential to point out that once the enrollment process has begun, it cannot be postponed, delayed, or replaced without paying a penalty for coverage. 

Why it is important to buy a Medicare policy during the enrollment period?

Medicare supplement insurance brokers are allowed to use medical underwriting to decide who is eligible for the Medicare cover and how much they should charge for the policy. However, during the open enrollment period the insurance service provider cannot deny you the following:

·         It cannot refuse to sell to sell to you any Medicare policy it offers.

·         The insurance company cannot charge you a higher premium than it charges other customers who are eligible for the cover.

·         It cannot by any means delay or postpone your cover. 

Remember, if your open enrollment period elapses without you signing up for the Medicare supplement insurance plans, you may not be able to enroll in the Medicare supplemental plan as easily as you would have done during open enrollment. Without the guaranteed issue privileges, you might be subjected to medical underwriting and may even be charged overpriced premiums based on your health condition.     

Learn more about Medicare Supplemental Insurance rates, plans and more at http://www.emedicare-supplemental-insurance.com.  Our expert Medicare Supplemental Insurance brokers will help you compare Medicare Supplemental Insurance rates and plans.  To talk to a Medicare expert call toll free 888.404.5049 today!


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