The Puritan Advisor*

A Medicare Supplement “Guaranteed Issue” Period Exists


by Jason Elwonger on September 1, 2011

A Medicare Supplement “Guaranteed Issue” Period Exists

            Most seniors are aware that upon reaching the age of 65, they are eligible for Medicare. The Medicare Supplement policies come into play to act as a secondary coverage to your Medicare. Since Medicare only covers 80%, it is wise to enroll in a Medigap plan, such as Medigap Plan G, to insure that the additional expenses are not completely out-of-pocket for you. Once you are enrolled in Medicare Parts A & B, the “guaranteed issue” period comes into effect.

            The “guaranteed issue period” exists for six months from the date you enrolled in Medicare. Normally, insurance companies take into account your current health status when extending coverage to you. However, during this guaranteed issue period, you are able to enroll in a Medicare Supplement plan without having to worry about medical underwriting for six months. This means that insurers are not able to consider your past, present, or future health status when offering plan options to you or when determining your monthly premium. As recommended, it is important to enroll in a Medicare Supplement plan during this period so that your buying experience is less difficult for you.


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