I’m turning 65 soon and a friend told me to take care of my Medicare enrollment as soon as possible. I also read somewhere that it’s better if I purchase a Medicare supplement policy during open enrollment. What is open enrollment? What difference will it make if I push my Medicare enrollment now?
If you’re already on your open enrollment period and you’re planning to get a supplement policy, the best reason for you to fix your Medicare enrollment now can be summed up in two words: guaranteed eligibility. That means the usual medical questions that pop up during a health insurance application won’t be asked and you won’t have to undergo health underwriting. In some states, guaranteed eligibility also applies to special cases like people over 65 who unwillingly lose their group health insurance, and people who qualify for Medicare disability. In those cases, they would also be given a six-month window to get supplemental health insurance. Also, you can save some money during your Medicare enrollment as some insurance providers offer discounts on supplemental plans during those six months. Of course, that translates to a lot of savings in the long run since your premiums stay manageable as you grow older. In case you’re planning to get Plan J – the most comprehensive Medicare plan, health underwriting would be required if you’re past your open enrollment period.
Answer by general public - July 3, 2009 @ 4:01 pm No CommentsNo comments yet. Leave a comment |
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There are several reasons why you should fix your Medicare enrollment during the six-month period given to you. Your open enrollment period starts three months before your birthday and ends three months after your birthday, so you pretty much have plenty of time to take care of it.
