3. Sign up during the Open Enrollment Period for your Medicare Supplement.
In fact, there is no such thing as a “best” Medicare Supplement Insurance plan. If you want the most alternatives, though, you should sign up during your Medicare Supplement Open Enrollment Period. This is the six-month period that begins the month you turn 65 and enroll in Medicare Part B.
You’ll have the finest Medicare Supplement Insurance plan availability during this time period because:
- You have “guaranteed-issue rights,” which means you cannot be denied coverage.
- Pre-existing conditions cannot be used to justify increased premiums.
- Medical underwriting cannot be required by insurance companies.
After this period, the insurance company may refuse to give you a plan, charge you extra if you have medical issues, or impose medical underwriting. If you have health difficulties, the greatest Medicare Supplement Insurance plan costs may not be available to you.
4. Determine whether the insurance company provides discounts.
As you can see, a variety of factors can influence the cost of Medicare Supplement insurance. Asking if the insurance company gives discounts is one technique to try to acquire the best Medicare Supplement Insurance plan cost.
5. Determine whether you have guaranteed-issue rights.
During your Medicare Supplement Open Enrollment Period, you usually have guaranteed-issue rights. This is your one-time opportunity to take advantage of the greatest Medicare Supplement Insurance plan availability.
After that period, however, you may be able to get Medicare Supplement insurance with the guaranteed issue in a few limited circumstances, such as if you disenrolled from your Medicare Supplement Insurance plan to enroll in a Medicare Advantage plan for the first time, then changed your mind within a year.
You should now have a better notion of what to look for when selecting the best Medicare Supplement Insurance plan for your needs, budget, and preferences. Do you want to get started right away?
Medicare Supplement plans are not affiliated with or endorsed by the United States government or the federal Medicare program. All programs are not available in every location and are subject to plan limitations as well as applicable laws, rules, and regulations. This article’s broad information is not designed to completely explain any specific plan. For more detailed information on any individual plan, please consult the official plan documents.
