When should I buy Medicare Supplement Insurance?

October 5, 2021

If you think that you would like 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 Medicare Supplement plan coverage. This means that they cannot refuse your Medicare Supplement 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 Original Medicare. When you get a Medicare Supplement plan, you’ll have more complete protection than you would if you stick with just Original Medicare. Also, Medicare Supplement Insurance may allow you to keep your current doctor as long as he or she treats Medicare patients.

With a Medicare Supplement plan, you can make an appointment with specialists without getting a referral. Most Medicare Supplement 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 Original 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 so helpful to enlist the help of a licensed insurance agent. They can help you find plans as well as programs or discounts you might not be aware of.

Medicare Supplement Insurance offers additional protection

Medicare Supplement Insurance may 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 TTY: 711 to get started.

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