You should think about your monthly budget, expenses, and health care needs when considering if a Medigap is the right choice for you.
When you are speaking to insurance representatives about Medigap policies, here are some questions to keep in mind:
- Am I enrolling while I am in my open enrollment period? If not, do I have a guaranteed issue right?
- What is the Medigap policy’s monthly premium?
- Is this premium based on my:
- Health status
- Marital status
- Or anything else?
- Are the premiums:
- Community-rated, meaning everyone in my area pays the same premium regardless of their age?
- Issue-age-rated, meaning the premium is based on how old I was when I bought the policy?
- Attained-age-rated, meaning the premium increases based on my age?
- Will the company refuse to sell me a Medigap based on my health status?
- Does the policy impose a pre-existing condition waiting period?
- How long is the waiting period before my coverage begins?
- Do I have prior creditable coverage to reduce my waiting period?
- If you do not have the right to buy a Medigap, ask the insurance representative how much extra you will be charged for purchasing one.
- If you are under 65, make sure the company you are considering sells to individuals under 65.
- Remember to keep track of who you spoke with, when you spoke with them, and the outcome of the call.
This content was created and copyrighted by the Medicare Rights Center ©2020. Medicare Rights Center is a national, nonprofit consumer service organization that works to ensure access to affordable health care for older adults and people with disabilities. These materials are presented here with support from YourMedicare.com and may not be distributed, modified or edited without Medicare Rights’ consent.
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