The Puritan Advisor*

Common Medigap Myths Debunked


by Jason Elwonger on January 4, 2012

Common Medigap Myths Debunked

MYTH: “I cannot change my Medicare Supplement policy or switch to another insurance carrier because I am out of my open enrollment period.”

TRUTH: While there are advantages to enrolling during your specific open enrollment period, you can change your Medigap policy at any time.

MYTH: “No matter when I choose to enroll in a Medicare Supplement policy, I will be subjected to medical underwriting.”

TRUTH: If you are able to enroll during your open enrollment period, you will not be subjected to medical underwriting.

MYTH: There will never be a time when my application for a Medigap policy is guaranteed to be accepted.

TRUTH: Under certain qualifying circumstances, a “guarantee issue” period does exist.

MYTH: “I can sign up for a Medicare Supplement plan even if I only have Medicare Part A.”

TRUTH: You must be enrolled in both Medicare Part A and Part B to qualify for a Medicare Supplement plan.

MYTH: “Because pricing is standardized, I can’t get a better deal on Plan F or Plan G by purchasing my plan through another insurer.”

TRUTH: Pricing is absolutely not standardized. By doing a little price comparison and shopping around, it is very likely that you will find the very same policy to be cheaper through another company that offers it.

MYTH: “If I want to purchase Medicare Supplement Plan F, I can only purchase my policy through certain Medigap carriers since not all of them carry the same plans.”

TRUTH: Each Medicare Supplement insurance provider is required to offer the same exact policies accompanied by the same benefits. However, pricing may vary from one company to another.


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