Medigap Eligibility and Enrollment
You must meet the following to be eligible for a Medigap Policy:
-United States Citizen or permanent legal resident for at least 5 consecutive years
-Enrolled in Medicare Part A and Part B
-Most states require you to be 65 years old
Medicare Beneficiaries under 65 are eligible for Medicare Advantage Plans. It is important to note that Medicare Advantage Plans and Medicare Supplement plans do not work together.
The best time to purchase a Medidgap Policy is when you are first eligible for Medicare so no underwriting is required. This is called the Open Enrollment Period (OEP) in which you will have guaranteed issue status. It starts the month you are eligible for Medicare Part B and lasts 6 months.
If you are outside your Open Enrollment Period (OEP) and you do not have a qualifying event to obtain Guaranteed Issue you will need to go through the carrier's underwriting process. Each carrier will require different underwriting questions and will have their own procedures, meaning some have strict underwriting and some have more lenient underwriting…… call us to find out more.
If you already have had a Medigap plan for several years chances are you are paying pretty high monthly premiums. There is no harm in testing the waters of underwriting to find a lower monthly premium, as long as you do not cancel your current policy.
Outside this guarantee issue period you will be subject to underwriting to obtain a policy.