Plan N Medicare Supplement Open Enrollment Period
Senior citizens who are at least 65 years or older, and are enrolled in Medicare Parts A & B, are eligible for Medicare Supplement insurance. Although you are not required to apply during a certain time period, it is highly recommended that you utilize your “Open Enrollment Period”. Your open enrollment period begins on the first day that you are, both, 65 years of age or older AND enrolled in Medicare Part B. This time period lasts for a total of six months once it begins. While it is not a requirement that you must take advantage of, it may be prove to be very beneficial for you.
“Why should I enroll in a Medigap policy during Open Enrollment?”
- Most health insurance companies will use medical underwriting when quoting you for a policy. If you apply for a Medicare Supplement plan during your open enrollment period, you can avoid medical underwriting altogether. This is especially helpful for those that might be going into it with health concerns that would normally bring about higher premium prices.
- In many cases, you cannot be denied a policy during your open enrollment period. Your options are wide open when you do not have to mess with being underwritten medically.
- Medicare Supplement insurance providers tend to target those prospects that have either just turned 65 or have just enrolled in Medicare Part B. Because of this, these particular carriers will likely want to compete for your business making it possible for you to achieve less expensive rates.
Whether you’re looking to purchase Medigap Plan F or another policy, you may benefit from utilizing your open enrollment period. You don’t need to be absolutely certain of what plan will suit you best. If you are leaning towards Plan N Medicare Supplement or another Medicare Supplement plan, a licensed agent will be able to help you gain the knowledge you need to make an informed decision. Although many opt for the comprehensive coverage that Medicare Supplement Plan F offers, that doesn’t mean that it is suited for everyone. Those who would prefer to keep their monthly premium amounts nice and low might be better served with Medicare Supplement Plan N. Your personal needs and objectives should govern the path that your Medigap policy will take.
Your Medicare Supplement Open Enrollment Period is designed to make your buying experience a little easier in that you are guaranteed approval in many cases. If you are approaching open enrollment, don’t miss out on the opportunity to obtain great health coverage. If you have missed out on your open enrollment period, there are still options available. Compare policies today!