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Medi-Gap Insurance Made Easy
WHAT ARE MEDICARE SUPPLEMENT PLANS?
Medicare Supplements are significantly different types of insurance plans and also referred to as (Medigap) insurance policies. Keep in mind, Original Medicare does not cover the cost associated with copayments, coinsurance or the annual deductible associated with the original Medicare A&B plan benefits. Overall, Medicare Supplements (Medigap) plans are designed to help pay for some or all of those costs, and depending on the Medigap plan of choice can help cover 100% of the Hospital and Medical expenses incurred.
HOW THE ENROLLMENT PROCESS WORKS FOR A MEDICARE SUPPLEMENT PLAN
The most favorable time to enroll into a Medicare Supplement (Medigap) plan, is during either the month of your birthday, via the "birthday rule" or during your initial enrollment period, which is; three months prior to your 65th birthday the month of your 65th birthday and three months after. During both these periods you are eligible to make a change or enroll in a Medigap plan based on an approval known as “Guaranteed Issue” - This type of approval eliminates the insurance carrier from requiring you to answer questions regarding your health. In essence, "Guaranteed Issue" eliminates going through a full underwriting process where an underwriter reviews your health history, before rendering a decision to approve or decline your Medigap insurance application.