Things can get pretty confusing when you are signing up for Medicare for the first time. Medicare consists of 4 parts. Part A is hospital insurance, Part B is health insurance, Part C is Medicare Advantage and part D is stand-alone prescription drug plans. Then comes the Medicare Supplement Plan which we all know by the name Medigap. These plans can be found at https://www.medicaresupplementplans2019.com
Medicare Supplement plan is a private health insurance plan that pays for the gap in the original Medicare policy. The benefits are pretty much the same in most states. However, each plan covers something different. The prices for each of these plans also vary depending on the benefits offered.
There is an eligibility criterion for the Medicare supplement plan. You must have Medicare part A and B, most comprehensive Medicare supplement plan known as Plan F. Plan C also covers almost everything that Plan F covers but not excess charges. Hence why, Plan F is one of the most popular Medigap plans.
As long as you keep on paying the monthly premium, the Medicare supplement insurance plan is renewable and your insurance company cannot terminate the policy. The price of the plan depends on your insurance company, your age, and location and of course, the type of plan you choose. However, these plans don’t cover long-term care, hearing aid, dental or vision care, or private nursing. Also, one plan can cover one person only.
When can I apply for Medigap?
The time you apply for a Medigap plan can influence your cost of coverage and whether or not you will be accepted. Usually, the best time to apply is during its open enrollment period. It starts on the first of the day you turn sixty-five or older and enrolled in Medicare Part B. This time period lasts for six months. During this enrollment period, your insurance company cannot use medical underwriting. It also cannot refuse to sell you its Medigap offers or charge you more for the policy than they normally charge a person who does not have any health problem. Lots of insurance companies treat the pre-existing conditions before accepting you for the plan. If you start your Medicare at 65, you will be accepted for the Medicare Supplement Plan regardless of your health condition. Before committing to a plan, it is important that you weigh all the pros and cons and choose an insurance company that is the most reliable.