The best time to purchase the Medicare supplement plan (Medigap) is during the Medigap open enrollment period. It lasts for 6 months and it starts on the first day of the month in which you turn 65 years or older and enrolled in Medicare Part B. There are some states that have an open enrollment period for individuals under the age of 65 too. The second enrollment period begins when they turn 65 years.
Get more information at https://www.medisupps.com/medicare-supplement-plans-2019/
It is important that you buy the Medigap plan during the open enrollment period. The Medigap insurance companies use the medical underwriting to decide whether to accept an application or not. However, your insurance company cannot do certain things during the open enrollment period even if you have a disability or an underlying health problem. These include; refusing to sell the Medigap policy, charge a higher price for the premium, or delay the start of your coverage.
Pre-existing condition waiting period
Usually, an insurance company cannot delay the start of your coverage during the open enrollment period. However, there are certain pre-existing conditions that can make you wait for the coverage to apply.
Your insurance company can decline to cover the cost of any services related to the pre-existing condition for up to 6 months. Although your Medicare plan will cover the condition during this time, you will have to pay for the copayments and coinsurance on your own. After the period of 6 months, your Medicare Supplement Plan (Medigap) will start covering the out-of-pocket expenses for your pre-existing conditions too.
It is possible to avoid or reduce the waiting period for your pre-existing conditions if: you buy the Medigap plan during the open enrollment period, if you can replace the creditable health coverage, if you have 6 months of continuous before the creditable coverage or if you did break in the coverage for more than sixty-three days.
What to do if your open enrollment period has passed?
If you are applying for Medigap after the end of the open enrollment period, there is no guarantee that your application will get approved. There are some states that can help you buy another type of Medicare supplement plan. It is called Medicare Select. Once you buy this policy, you can switch to the a standard Medigap plan within 12 months. You might have to check with your insurance provider to find your situation.