Medicare Supplement: When to Enroll
Medicare Supplement, also known as Medigap insurance, is a part of Medicare that is designed to help cover some costs that the enrollee is expected to pay for out of pocket. There are ten Medigap plans in Washington, lettered from Plan A to Plan N.
These plans are standardized, meaning they offer the same benefits in each state. You can enroll in Medicare Supplement if you have purchased Original Medicare and you are not currently enrolled in a Medicare Advantage plan.
When to Enroll
Unlike Original Medicare, you can only purchase a Medicare Supplement plan through a private insurer that has been approved by Medicare. There is a six-month window that opens around your 65th birthday during which you can enroll in Medigap. This window is known as the Medicare Supplement open enrollment period. You can freely enroll in a Medigap plan during this period as the insurance provider cannot reject your application through medical underwriting if you have certain pre-existing health conditions.
Though you can enroll in Medigap after the open enrollment period, insurance companies may deny your request to enroll due health underwriting. However, if you apply during the open enrollment period, you’d have a guaranteed issue right to enroll in Medigap. After enrolling in a Medicare Supplement plan, you have the right to review the new plan within 3o days. You will get a refund if you cancel your plan within 30 days.
Before you buy a Medicare Supplement plan, there are some important steps to take. First, you need to research the various plan options. There are ten Medigap plans, each with different degrees of coverage. You should look out for a plan that covers vital out of pocket costs from your Original Medicare coverage. The next step is to find out the pricing and whether the plan is available in your region. You can do all this research yourself or you can call McGregor Benefits. Let us simplify the process for you. We are a free service. Our rates are the same as if you called the carrier yourself and enrolled.
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All you pay for is the premiums, which are the same with or without our help.