Medicare Supplement Plans, which are also called Medigap plans, can be added to help further cover costs such as copayments and deductibles. They’re divided into ten separate policies, all of which cover leftover costs at some capacity but vary in the amount covered. These Medicare Supplement Plans are A, B, C, D, F, G, K, L, M, and N.
It should be noted that Medicare Supplement Plans C and F are not available to those who first qualified for Medicare on or after January 1, 2020. However, Medicare Supplement Plan G is emerging as the next most popular option. It covers all that Plans C and F do, except for the Medicare Part B deductible. For those who are turning 65 in 2020 or later, Plan G is the most comprehensive coverage available.
When can I enroll in a Medicare Supplement Plan (Medigap)?
Medicare Supplement Plans have their own enrollment period. This window is known as the Medigap Open Enrollment Period. You can join a Medicare Supplement Plan beginning when you are 65 and enrolled in Part B. The period is six months long.
Your ability to join hinges on enrolling in Part B. If you’re over 65 and you decide to purchase Medicare Part B, then that is when the six-month period starts.
During the six months, you have the option to enroll in any Medicare Supplement Plan without the fear of being denied coverage due to health reasons. You also will not be charged higher premiums. However, missing this period can make enrolling in a supplement plan much harder.
Is there anything that can stop me from enrolling?
Yes. Missing the Medigap Open Enrollment period can be a costly error. Once you miss it, you are less likely going to be able to obtain a Medicare Supplement Plan policy. There is the chance that you will be denied coverage because of health reasons, as well as asked medical questions, charged higher premiums, or go through medical underwriting.
On a side note, you can’t have a Medicare Supplement policy and a Medicare Advantage policy at the same time. You have to choose between one or the other.
We can help!
If you have any questions about Medicare Supplement coverage, contact us today by calling 800-805-6834.
