When should I buy Medicare Supplement Insurance?

October 5, 2021

If you think that you’ll need Medicare Supplement Insurance to go alongside Medicare, then you should consider purchasing it when your Medicare Supplement Insurance open enrollment time arrives. This period automatically starts the month you’re 65 and enrolled in Medicare Part B (Medical Insurance) and lasts for 6 months.

During this time, an insurance company is not permitted to send your request to its medical underwriting team to determine whether you’re eligible for supplemental coverage. This means that they cannot refuse your insurance request, and they are not allowed to charge you more based on your health history. Insurance companies must provide coverage immediately without delay.

It’s good to purchase a Medicare Supplement Insurance plan as soon as you’re eligible because you’ll be able to purchase any plan that’s available in your state, and you’ll usually get better pricing and more policy options during this time.

Make sure that you know the time frame of your initial enrollment. If you miss it and apply for coverage later, then insurance companies will be able to use their medical underwriting department to determine your coverage approval and how much it will cost if you are offered protection.

The benefits of Medicare Supplement Insurance

A Medicare Supplement Insurance plan will make it easier for you to cover some of the out-of-pocket expenses that aren’t covered by traditional Medicare. When you get a supplemental plan, you’ll have more complete protection than you would if you stick with just Medicare. Also, Medicare Supplement Insurance may allow you to keep your current doctor as long as he or she treats Medicare patients.

With a supplemental plan, you can make an appointment with specialists without getting a referral. Most supplemental plans don’t require you to fill out claim forms, which makes the plans easy and straightforward to use.

Comparing Medicare Supplement Insurance plans

Medicare Supplement Insurance plans come with different coverages and benefits so that you can choose coverage that fits your needs. Medigap plans are divided into 10 plan types. Each of these plans covers hospital costs (following the coverage provided by traditional Medicare). The supplement plans cover you for an additional 365 days in the hospital (if you need that much time). Most of the plans include 100% hospice care coinsurance in addition to nursing facility care.

Be sure to compare costs because different insurance companies charge different amounts even if the policy is the same. Some states have regulations in place that provide their residents with additional protections, that’s why it’s important to enlist the help of a licensed insurance agent. They can help you find programs or discounts you might not be aware of.

Medicare Supplement Insurance offers additional protection

Medicare Supplement Insurance will help give you peace of mind and help ensure that you have medical coverage when you need it. At SmartMatch Insurance Agency, we can help you learn more about Medicare insurance and its many options. Call us at (888) 411-7647 to get started.

Blog Categories

Ready to get Smartmatched?

Or speak to a licensed insurance agent

1-888-411-7647 | TTY: 711

SmartMatch Insurance Agency, LLC

Corporate Office:
120 W. 12th St.
Suite 1700
Kansas City, Missouri 64105

Business Hours:
Monday – Friday 7:30am – 5pm CT