
What Are Medicare Excess Charges?
Medicare excess charges are one of those complicated Medicare topics which tends to raise questions for potential Medicare Supplement plan enrollees. Read on to find out what you
In need of personalized Medicare advice? Get free guidance today.
In need of personalized Medicare advice? Get free guidance today.
In need of personalized Medicare advice? Get free guidance today.
In need of personalized Medicare advice? Get free guidance today.
In need of personalized Medicare advice? Get free guidance today.
Medicare excess charges are one of those complicated Medicare topics which tends to raise questions for potential Medicare Supplement plan enrollees. Read on to find out what you
In need of personalized Medicare advice? Get free guidance today.
In need of personalized Medicare advice? Get free guidance today.
Let’s start with the basics of Medigap eligibility requirements. To qualify for a Medicare Supplement plan, you must be enrolled in Medicare Part A and Part B.
Also, you must either be a United States citizen or legal resident who has been in the U.S. for at least 5 consecutive years to enroll in a Medigap plan.
Most people become eligible for Medigap when they turn 65 and enroll in Medicare. However, this isn’t the only way to qualify for Medicare Supplement Insurance.
The most common time for most people to sign up for Medigap insurance is when they turn 65 and first become eligible for Medicare. Your Medigap Open Enrollment Period (OEP) begins the first day of the month you turn 65 and are enrolled in Part B. This period lasts for six months, and during this time, you are permitted to enroll in any Medicare Supplement plan without having to undergo medical underwriting.
If you choose to wait to enroll until after your OEP finalizes, insurance companies in most states won’t be obligated to sell you a policy and can even reject you based on your health history.
Federal law does not require insurance companies to sell Medigap policies to individuals under the age of 65. Therefore, if you qualify for Medicare because of disability benefits, you may not be able to sign up for a Medicare Supplement plan.
For example, 30 states are required to offer at least some kind of Medigap coverage to people with End-Stage Renal Disease on dialysis. While many states do offer at least one kind of Medigap plan to Medicare beneficiaries under 65, these plans often come with extremely high monthly premiums.
You should know that beneficiaries that qualify for Medicare because of a disability who choose to enroll in Medicare Supplement Insurance typically face higher monthly premiums. However, Medigap premiums are regulated in some states to keep them low for these individuals.
Also called “Medigap protections”, guaranteed issue rights are granted in certain situations to protect your right to a Medigap policy.
Guaranteed issue rights state that an insurance company must sell you a Medigap policy which covers all of your pre-existing health conditions.
Additionally, they protect you against being charged more for your Medigap policy as a result of your past or present health conditions.
Some of the situations in which guaranteed issue rights apply include when:
Another situation in which guaranteed issue rights apply is in “trial rights” circumstances. This occurs when:
As you can see, guaranteed issue rights can protect you from being denied Medigap coverage in a variety of situations. But they don’t apply in every person’s case. If you are interested in signing up for a Medigap policy, it is usually advisable that you do so during your OEP if possible.
Choosing a Medicare Supplement plan can be overwhelming, and you shouldn’t have to figure it out on your own. Reach out today to receive Medigap advice from an experienced insurance agent here at Medicare Plans Direct.
Copyright © 2022. All Rights Reserved. Not affiliated with the federal government. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.