A Medicare Supplement Plan, or Medigap, is a type of health insurance plan that covers the gaps in coverage present in Medicare Part A and B. When you can sign up for a Medicare Supplement Plan will depend on your situation.
You Can Enroll After You Sign Up for Medicare Part B
You can join a Medicare Supplement plan anytime, but it is extremely important to do so as soon as you become eligible for the Medicare Supplement Open Enrollment Period. This is because if you do so during this period (around when you turn 65 and Part B coverage becomes effective), the insurance company must waive certain aspects of insurance underwriting, making your health insurance much cheaper. If you wait and try to purchase your insurance outside this period, you may have to go through medical underwriting.
Remember, you must be enrolled in Original Medicare to join a Medicare Supplement plan. If you are enrolled in Medicare Advantage, you are not eligible to join a Medicare Supplement.
How Do Medicare Supplement Plans Work?
Medicare Supplement plans work alongside your Original Medicare. It helps to provide you with some financial assistance to help with your medical bills. Original Medicare will pay its share first, then pass on the rest of the bill to your Medicare Supplement.
What Do Medicare Supplement Plans Cover?
Most Medicare Supplement plans are designed for people over 65, but there are some plans that are available to cover people who are under 65. In general, Medicare Supplement plans are designed to fill the gaps in Medicare coverage, for example, the annual deductible, copayments, and coinsurance.
Get a Medical Supplement Plan Today
There are a number of companies that offer Medicare Supplement plans, and they each have different plans and prices. Remember that you have to be in Original Medicare to be eligible for a Medicare Supplement plan. Also, Medicare Supplement plans are not always guaranteed to be accepted by your doctors, so check to make sure that your doctors accept the Medicare Supplemental plan.
Medicare is a complicated program, and it can be difficult to navigate the exact costs of multiple plans. Life is too short not to have an agent who keeps in touch, knows what they are doing, and you what you need. Call the Medicare With Jake team and get the plan you deserve today!
