After this period, enrolling in the Medicare Supplement insurance plan isn’t as easy, especially if you’ve never done it before. If you have a Medigap plan already, there is no guarantee that you can switch your plan. Only in some situations is this applicable.
Insurance companies may charge you more on the premium, and you may have to go through medical underwriting. It all depends on your health. They can also deny coverage if they want.
Finding Medicare Supplement insurance becomes much harder to do after the Medigap enrollment period ends, especially when your health is questionable. And, if you do find a company willing to provide you coverage, the cost may be much more.
When Guaranteed Issue Rights Still Apply?
A number of situations warrant you a chance to enroll in Medigap, including but not limited to:
- You were misled by your Medigap insurance company.
- The Medigap insurance company goes out of business.
- You are not responsible for the coverage ending.
- You have both an Original Medicare plan and group health plan from work, and the employer coverage will end.
- You’re moving into a coverage area that does not currently offer your Medicare Select plan.
- You have a Medicare Advantage plan and will be moving into an area that doesn’t offer the same plan.
- When you turned 65, you enrolled in a Medicare Advantage plan but no longer feel it meets your needs and want to go back to your Original Medicare plan before the first year ends.
After enrolling in your Medicare Advantage plan, you declined your Medigap plan. You decide before the year is up that you would rather have the Original Medicare.
What Are Preexisting Conditions?
These are any health problems you have before a policy begins. Some insurance companies will deny you coverage or charge you more depending on the condition you have.
When reviewing plans, make sure to look over the fine print to ensure the coverage you need is available.