The Puritan Advisor*

Plan N Open Enrollment Period


by Jason Elwonger on September 19, 2011

Plan N Open Enrollment Period

            Contrary to popular belief, you don’t HAVE to enroll in Plan N during your “open enrollment period”. Although there are many seniors who do make it a point to enroll during this time to avoid medical underwriting, it is certainly not a requirement. You can also switch to Plan N at any time even if you are already enrolled in a Medicare Supplement plan. Whether you sign up for Plan N or another Medigap plan during this period or not, it is essentially important to have the security of secondary health coverage after Medicare.

            Wondering why you need another health plan when you have Medicare? Because Medicare only pays 80% of approved medical costs, it is necessary to have another policy in place to cover the other 20%. While it is definitely optional, it is a wiser choice rather than paying everything not covered by Medicare out-of-pocket. If you choose not to enroll in a plan of this type, you should be prepared to pay up to thousands of dollars yourself.

            Though there are many plans available to choose from, Plan N is an extremely popular choice because of the extensive list of benefits offered. Depending on your need and desire, Plan N could be right for you if it fits within your financial budget. If you are one that may need to see a doctor more often than others, this plan could definitely save you money. While it is possible that your monthly premium could be a bit higher than it might be on another plan, the benefits could outweigh the price when you have Plan N. As with other things in life, sometimes you get what you pay for!

            While you can rest assured that you do not have to enroll during your open enrollment period, there are advantages to enrolling during this time. The major factor for many is medical underwriting. As long as you enroll during open enrollment, you won’t have to worry about insurance companies considering your past and future health problems as a basis for your premium amount. If this is something you are interested in avoiding, you should know that your open enrollment period begins the day you are enrolled in Medicare Part A and B, and lasts for six months.

            No matter when you choose to sign up, Plan N could be the best option for you. If you are looking to save thousands of dollars and to gain essential benefits, that plan may be your best option. As with anything else, you should do your homework to make sure before enrolling. Remember that you will never be forced to enroll during your open enrollment period, but it could save you money on your premium each month if you do.


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