Qualifying for Guaranteed Issue and Medicare Supplement Plans
The world of health insurance is becoming more and more complex by the day. Most insured members are relieved once they turn 65 and qualify for Medicare Supplement plans. Medicare Supplements are also known as Medigap plans. Most people at the age of 65 qualify for these plans and Individuals with certain disabilities are eligible as well. The triggering qualification for the initial Medigap enrollment is the member’s Medicare Part B eligibility date. As a result, the most common way to enroll in a Medigap plan is within 6 months of the initial eligibility date. This period is called Guaranteed Issue and no health questions are asked. Consequently, applicants changing plans or enrolling outside of their guaranteed issue period are required to answer health questions.
The World Outside of Guaranteed Issue
Sometimes it makes sense to submit a new application outside of the Guaranteed Issue period and answer health questions. As a result, not every health insurance company will approve your Medicare Supplement application if you have certain health conditions. Non-Medicare health insurance policies cannot ask health questions about pre-existing health conditions. Since these regulations do not apply to Medicare eligible applicants, it is wise to discuss your eligibility with an insurance broker. There are other circumstances which allow members to change plans outside of their initial enrollment period without answering health questions. These circumstances are known as Qualifying Life Events. Because Qualifying Life Events are specific, the federal government defines the necessary eligibility requirements. Furthermore, these specific circumstances vary for non-Medicare plans and Medicare plans.
To learn if you are eligible for a change in Medigap coverage without health questions, please give us a call at (775) 828-1216. One of our licensed brokers will assess your eligibility or determine if you qualify for a guaranteed issue enrollment period.