Know all About the Medicare Supplement Open Enrollment

The purchase of the Medicare supplement open enrollment can be done without having to wait for any kind of coverage or paying any high rate due to prior or present conditions of your health. The open enrollment is mandated federally and hence each and every company is bound to abide by it at all times. The best period for buying an insurance policy of the Medicare Supplement is during the period of your Medigap open enrollment.

The Period and the Facilities Available

The initial period of the open enrollment for Medicare supplement begins on the very first day of the month when they reach the age of 65. Apart from this they also need to be enrolled in the policies of the Medicare Part B. This period lasts for six long months and once you get enrolled in the Medicare Part B it can no longer be changed. This is a period when no company can ask for a higher charge from you for any Medigap policy or force you to wait for your coverage to start. You can also apply for it earlier, before the start of the enrollment period, in which case you will be facilitated with a continuous period of coverage.

In case you have the health insurance of an employer group, it will be wise on your part to delay your enrollment for the Medicare Part B. This can be done unless and until you go on to lose that group coverage of yours or it is terminated. This will enable you a guaranteed opportunity for a Medicare supplement open enrollment procedure at a later point of time when you actually sign up for a Medicare Part B.

The Importance and Working of the Medicare Supplement Open Enrollment

It is very important to sign up for the Medicare Supplement policy at the time of the open enrollment, because if you fail to do so you might face problems due to that in the near future. Signing up at a later stage might need you to follow certain criteria that might be troublesome for you like:

  • You have to be medically eligible at that point, otherwise be in good and sound state of health in order to be able to avail the plan.
  • You might also be charged at rates that are normally much higher than that of the open enrollment period as the companies can afford to do so during that period of time.

The open enrollment of the Medicare Insurance policies, do not require you to provide any sort of health proof to the insurance companies, whom you get yourself enrolled with. Since your application is free from any sort of medical information, the underwriting happens to be a lot quicker than in the other cases. This allows you to get the right coverage at the right time without much complication. Your insurance companies can under no circumstance deny you of your coverage or ask for a higher rate, on account of any of your health problems.