Enrolling in a Medicare Supplement Plan

When Can I Enroll In a Medicare Supplement Plan

Having a Medicare Supplement plan alongside Original Medicare can help fill the gaps that Medicare does not cover, such as copayments, coinsurance, and deductibles. 

But when is the best time to get a Medicare Supplement plan?

Eligibility Criteria for Medicare Supplement Plan

There are certain things that you must have to enroll in a Medicare Supplement plan. You must already be enrolled in Original Medicare, as well as be 65 years or older. 

When Can I Enroll In a Medicare Supplement Plan 

The Medigap Open Enrollment Period lasts six months after the day you turn 65. This period is the best time to enroll for a supplement plan because you have guaranteed issue rights during this time. These rights guarantee that you can enroll in a supplement plan without any rejection.

Benefits of Enrolling In Open Enrollment Period 

Your guaranteed issue rights mean you have a solid opportunity to get coverage from a Medicare Supplement plan. During this period, your pre-existing health conditions cannot determine your eligibility for a Medicare Supplement plan. You will also not be subjected to medical underwriting or charged extra premiums.

Enrolling After Open Enrollment Period

Enrollment after the open enrollment period is much more difficult. Once you lose your guaranteed issue rights, the insurance companies may require you to undergo medical underwriting. Your medical conditions and health status can easily result in much higher premiums or denial of a supplement plan altogether.

Takeaways

Having a supplement plan apart from your Original Medicare plan can be beneficial to you. It is important to save as much as you can on medical costs as they can become costly if not taken care of. If you want any further information on Medicare Supplement plans, contact Temmen Insurance at (417) 633-7200 to get a free consultation.

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