Home Resources Tips of the Week AMAC’s Medicare Tip of the Week: Medicare Enrollment Periods Part 3: Medicare Supplement (Medigap)

AMAC’s Medicare Tip of the Week: Medicare Enrollment Periods Part 3: Medicare Supplement (Medigap)

Are you aware that you can sign up for Medicare Supplement plans at any time? It’s true! There are even times where you can avoid going through Medical Underwriting. To learn more about enrolling in a Medicare Supplement plan, make sure to watch the video below, our final installment of the Medicare enrollment periods series!

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So, when can you apply for a Supplement plan? Well, anytime actually!

That’s right! Many people have the misconception that you need to apply during certain times of the year, but this is false. You may apply for a Medicare Supplement plan at any time, however, there may be times where you can avoid Medical Underwriting.

During your Open Enrollment (OE), which is your first 6 months of enrollment in Medicare Part B, carriers cannot apply Medical Underwriting. Medical Underwriting means that you would be asked a series of questions relating to your health. Typically, outside of your Part B Open Enrollment, carriers can deny coverage based on your health history.

Guarantee Issue Rights (GI) are a 63-day window in which your acceptance into a specific Medicare Supplement Plan letter is guaranteed. You may qualify for GI rights if you recently lost credible coverage like an employer group health plan, or your Supplement plan chooses to discontinue coverage in your area.

Some states allow you to make changes to your Medicare Supplement Plan throughout the year without going through Medical Underwriting. Be sure to check if your state has special Medigap rights.

Otherwise, the carrier will determine if they are willing to accept you based on the information you provided on the application and in your health records. If you are in good health, this may not be of concern to you. However, if you have significant health issues, be aware of the process before you get your heart set on changing.

Again, you can apply at any time, but it is a matter of whether the carrier will accept your application. Many believe that if they enroll during the Annual Enrollment Period, they will bypass Medical Underwriting, but this is not true. Unless you qualify for Open Enrollment, have a state-specific right or Guarantee Issue Rights, you will be asked medical questions.

And that concludes our three-part series about the different Medicare Enrollment Periods. If you enjoyed these videos, let us know in the comments and share any questions you might have – AMAC’s Medicare Advisory Service is always here to help!

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