Nothing lowers costs quite like Medigap. Medigap, or Medicare Supplement Plans, provide a great way to reduce out-of-pocket costs. However, there is only a certain window of time in which you will be able to get it without the possibility of rejection. If you’re enrolling in Medicare in 2022, Medigap is worth considering.
When Can I Join Medigap?
It is highly encouraged that you join during the Medigap Open Enrollment Period because after this, you face a greater likelihood of not being able to get a Medigap plan.
Why Should I Join During The Medigap Open Enrollment Period?
The Medigap Open Enrollment Period automatically begins once you’re enrolled in Medicare Part B and you are 65 or older. It lasts six months from this point.
During this six-month period, you can get any Medigap plan your insurer offers. They can’t turn you down. In fact, it would be illegal for your insurer to do this.
Another advantage this has is that there’s no medical underwriting process at all. Your health problems will not be held against you. They’re not even allowed to charge you more over health issues.
However, if you have a pre-existing health condition, you may have to undergo a waiting period before your Medigap coverage starts. This is not the same as being denied coverage. You will have Medicare coverage, but you may not get Medigap benefits until six months after you’ve signed up for it.
What Should I Consider Beforehand?
When you first join Medicare, you may also be considering Medicare Advantage. It is important to note that you cannot simultaneously have a Medicare Advantage and Medigap policy at the same time.
If you are under 65 but are still eligible for Medicare, it is possible for you to get Medigap, but your options will be limited. That’s because companies aren’t required to sell Medigap policies to individuals under 65. You may not be able to get a plan you are satisfied with.
Learn More About Your 2022 Medigap Plan Today
At Cornerstone Senior Advisors, we aim to give you a plan that you can be truly satisfied with. If you’re enrolling in Medicare for the first time in 2022, you have the best opportunity to get a plan that will lower your out-of-pocket expenses. Call us now at 316-260-3331 to learn more!