The Puritan Advisor*

In Certain Situations, You May Obtain Plan F By “Guaranteed Issue”


by Jason Elwonger on March 16, 2012

In certain situations, you may obtain Plan F by “Guaranteed Issue”

As a member of Medicare Part B who is 65 years of age or older, you are eligible to apply for a Medicare Supplement insurance policy. Those who simply have Medicare alone are only covered for 80% of their approved medical expenses. Medigap plans were designed to cover the remaining gap in your Medicare insurance coverage. While the optimal time to apply would be during your open enrollment period, you may apply for a Medicare Supplement policy at any time once you are enrolled in Part B and have reached the age of 65.

Your “Open Enrollment Period” begins on the first day that you are enrolled in Medicare Part B and at least 65 years old and lasts for six months from that day. During this time, you may apply for Plan F, or any other Medicare Supplement insurance plan, without having to be medically underwritten. When insurance companies use medical underwriting against you, they are able to consider your past and current health concerns to raise your quoted premium rate. By enrolling in a supplemental policy during open enrollment, you avoid that and open yourself up for the ultimate array of options.

Plan F

In certain cases, a “Guaranteed Issue” Period does exist:

  • If you are losing your healthcare coverage due to a loss of employment or retirement.
  • If you move out of your current plan’s service area.
  • If you lose your health insurance due to the insurance company going bankrupt.
  • If you lose your Medigap coverage for another reason that did not result from any fault on your part.

If any of the above scenarios applies to you, you may fall under the “Guaranteed Issue” category meaning you will not be denied a new Medicare Supplement insurance policy. No matter if you decide to purchase Medicare Supplement Plan F or Medicare Supplement Plan N, you should not have any issues in applying and being approved for a new policy. Although Medigap Plan F is known to be the most all-inclusive plan, Plan G is a comparable choice. Plan N Medicare Supplement is often recommended for those who would like to keep their monthly premium costs low. If you are not sure which plan is the best Medicare Supplemental insurance plan for you and your needs, an independent agent can help answer any question you may have. Inquire today for your Free Medigap quote!


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