When to Enroll In a Medigap PlanPosted by Medicare Made Clear
When it comes to making Medicare coverage choices, you may be considering a Medicare supplement insurance plan, also known as a Medigap plan. A Medigap plan helps pay some of the out-of-pocket costs that Medicare Parts A & B doesn’t, such as deductibles, copayments and co-insurance.
There are eight standardized plans available for those enrolling January 1, 2020 or later. Medigap plans are provided by private insurance companies and vary in cost.
When Can I Get a Medigap Plan?
You can first get a Medicare supplement insurance plan as soon as the first month after you are both 65 years old and enrolled in Medicare Part B. When you are 65 and enrolled in Part B, you have a specific enrollment period for Medigap insurance called the Medicare Supplement Open Enrollment Period. This lasts for 6 months and guarantees you the right to buy a plan if you enroll during this six-month period.
If you miss the Medicare Supplement Open Enrollment Period, you can still apply for a Medigap plan at any time. However, you could be denied coverage or charged a higher premium based on your health history.
Can I Change My Medigap Plan?
Yes you can change your Medigap plan, but when you decide to leave a Medigap plan there is no guarantee you will be able to enroll in the new one you want, enroll in the same one again or at the same cost. Enrolling in a Medigap plan outside of your Medicare Supplement Open Enrollment Period means there is no guarantee of coverage and that your past health history can influence plan premiums.
You can learn more about the basics of Medicare supplement insurance plans in the video below.
For more information about Medicare, explore MedicareMadeClear.com or contact the Medicare helpline 24 hours a day, seven days a week at 1-800-MEDICARE (1-800-633-4227), TTY 1-877-486-2048.Tags: Changing Medicare Plans, Medicare Supplemental Insurance