All Medicare plans, including Medicare Supplement plans, have enrollment periods during which you can register for the plan. To enroll for a Medicare Supplement plan, you have to wait for the Open Enrollment period. The Open Enrollment period starts when you turn 65 and have enrolled for Medicare Part B. This Open Enrollment period lasts for six months. This is the best time to enroll for a Medicare Supplement plan.
Medigap Open Enrollment
The Open Enrollment period is highly important as it is the period when the private insurance companies that offer Supplement plans cannot use medical underwriting. Medical underwriting involves considering health conditions and the costs involved in covering a beneficiary before choosing to enroll the individual. Insurance companies can reject you if you have a health condition and try to register outside the Open Enrollment period.
However, during the Open Enrollment period, you can register for any Supplement plan as long as you are qualified and still be accepted, even if you have a medical condition. If you try to enroll after the Open Enrollment period, the provider may charge you more or reject your application, depending on your health history.
Under 65
Insurance companies generally do not sell Medicare Supplement plans to people who are under 65 since most Medicare beneficiaries have to be 65 or above before they can enroll for Medicare. However, in some cases, you may have Medicare when under 65, for example, due to a disability or severe health condition. In this case, you can apply for Medicare Supplement plans at any time. However, in most states, there are no Open Enrollment periods for Medicare Supplement plans for Medicare beneficiaries who are not yet 65. The private insurance provider may also refuse to enroll the applicant as a result of their health condition.
Guaranteed Issue Rights
You may be able to register during Open Enrollment periods in some states, even if you are under 65. Having guaranteed issue rights can also enable you to enroll for a Medicare Supplement plan outside the Open Enrollment period. Some factors can qualify you for guaranteed issue rights. Keep in mind that if you have guaranteed issue rights, you can enroll for a Medicare Supplement plan immediately while the provider cannot deny coverage based on health conditions. If your previous Supplement plan provider committed fraud or went bankrupt, you could also qualify for guaranteed issue rights.
For more information and help with Medicare Supplement plans, contact us today at Turning 65 Solutions.