The 3 Best Times To Sign Up For Medigap

The time at which you sign up for a Medigap plan is almost as important as the plan you choose to purchase. While you can technically enroll in a Medicare Supplement Insurance (Medigap) plan at any time, there are certain times that are better than others.

The Medicare Annual Enrollment Period (AEP) is currently happening! This happens every year from October 15 to December 7th and allows beneficiaries to make certain changes to their Medicare coverage.

If you’re at least 65 and enrolled in Medicare Part B, you can apply for a Medigap plan at any time - including during AEP! If you'd like to switch into a Medicare Supplement plan from Medicare Advantage, you must do so during AEP*.

Visit MedicareSupplement.com today to learn more or call 855-508-0919 to speak with a licensed insurance agent who can help determine your eligibility and help you enroll in a plan over the phone.

Am I Automatically Enrolled in Medicare When I Turn 65?

Understanding Medicare enrollment periods and eligibility is an important first step in your Medigap shopping experience - especially when you are turning 65. Watch this quick video from our MedicareSuplement.com expert and licensed insurance agent, Christian Worstell, to learn more.

Before you learn about the best times to enroll in a Medigap plan, you must first understand the concept of guaranteed issue rights.

What Are Guaranteed Issue Rights?

Having Medicare guaranteed issue rights means insurance companies are not allowed to use your health status to dictate your Medigap plan premiums. You will instead be offered a standard premium made available to other Medicare beneficiaries who are also enrolling under guaranteed issue rights.

But if you choose to sign up for a plan at a time when you do not have guaranteed issue rights, insurance companies have the right to use medical underwriting to determine your premiums. That can include a health questionnaire or even a physical exam to assess the status of your health. If you are determined to be in poor health or have certain conditions, the insurer can charge you a higher premium or even deny you coverage entirely.

Plus, enrolling at a time when you do not have guaranteed issue rights may lead to a waiting period of up to six months for coverage of pre-existing conditions.

There are three instances in which you have guaranteed issue rights to enroll in Medigap for the first time, which are detailed below.

(The enrollment periods discussed below are provided nationwide. Some states may offer additional times at which guaranteed issue rights are available. Check with a licensed insurance agent for more information about guaranteed issue rights in your state.)

1. Your Medigap Open Enrollment Period

The first time you can sign up for Medigap, or Medicare Supplement Insurance, is during your Medigap Open Enrollment Period. This period begins the month you are enrolled in Medicare Part B and lasts for six consecutive months.

This enrollment period typically overlaps with your first opportunity to enroll in Original Medicare and is the time at which most Medigap beneficiaries will sign up for their plans.

Your Open Enrollment Period may be happening now or soon - we can help! Click here to get started or call 855-508-0919 to speak directly with a licensed insurance agent.

2. After You Lose Group Health Coverage

You may be granted guaranteed issue rights if you were enrolled in a group health plan that acted as a secondary payer to your Medicare Part A and Part B benefits, and you lost the group health plan coverage through no fault of your own.

3. After You Disenrolled From a Medicare Advantage Plan

If you join a Medicare Advantage (Medicare Part C) plan when you first become eligible for Medicare, you may disenroll within the first 12 months if you decide you are unhappy with the plan. And if you do so, you will be given guaranteed issue rights to sign up for a Medigap plan.

There are a few additional times at which you may be given guaranteed issue rights to purchase a Medigap policy after having previously been enrolled in a Medicare Advantage plan. These include:

• Your Medicare Advantage plan ends its contract with Medicare.
• You move outside of the Medicare Advantage plan’s coverage area.
• Your Medicare Advantage plan discontinues service in your area.
• There is evidence that your Medicare Advantage plan misled you, committed fraud or broke certain other rules.

Does this sound like your situation? Visit MedicareSupplement.com today to learn more or call 855-508-0919 to speak with a licensed insurance agent who can help.

Guaranteed Issue Rights After Enrolling in Medigap

It’s also possible to be approved for guaranteed issue rights after having already been enrolled in a Medigap plan. Such instances include if your Medigap insurance company files for bankruptcy or ends your Medigap plan.

The Sooner the Better: How Your Age Affects Your Medigap Premium

Insurance companies selling Medigap plans can factor your age into your premium in one of three ways.

• Issue-age-rated premiums are based on your age at the time of enrollment. Typically, younger enrollees will pay a lower premium and older customers will be charged a higher rate.
• Attained-age-rated premiums are based on your current age, meaning your premium will increase as you age.
• Community-rated premiums do not take your age into account.

If your Medigap insurer uses issue-age-rated or attained-age-rated pricing methods, you could benefit from enrolling at the earliest age possible.

Learn More About Medigap Enrollment

There’s a lot more to know about Medigap enrollment that we haven’t covered here.

Reach out to a licensed insurance agent at 855-508-0919 or visit MedicareSupplement.com today to learn more about Medigap enrollment periods, your eligibility and to compare plans available in your area.

And don’t forget - The Medicare Annual Enrollment Period is happening now! You can enroll in a Medicare Supplement plan at any time, including during AEP. Get started here.

*If you are enrolled in a Medicare Advantage or MA-PD plan and want to enroll in a Medicare Supplement insurance plan, you must switch from your current plan into Original Medicare, which you can do during the Medicare Annual Enrollment Period.

MedicareSupplement.com is owned and operated by TZ Insurance Solutions LLC. Copyright © TZ Insurance Solutions LLC. All rights reserved.

This is a solicitation of insurance. Plan availability varies by carrier and location. Callers will be directed to a licensed insurance agent with TZ Insurance Solutions LLS who can provide more information about Medicare Supplement Insurance plans offered by one or several insurance carrier(s). TZ Insurance Solutions LLC and the licensed agents that may call you are not connected with or endorsed by the U.S. Government or the federal Medicare program. Medicare has neither reviewed nor endorsed the information contained on this website. This is not a complete listing of plans available in your service area. For a complete listing please contact 1-800-MEDICARE (TTY users should call 1-844-486-3578), 24 hours a day/7 days a week or consult www.medicare.gov.