Because Medicare does not fully cover charges for medical care, in the past few years, Supplemental Medicare Policies have been created to fill in the gaps. Commonly referred to as Medigap, these policies can be very beneficial, and there are instances where insurers cannot deny applicants policies despite their health. In them, you do not even need to answer the medical questions on the Medigap application.
As already stated, the Medigap program was started to give individuals coverage in areas where Medicare does not. In most states, insurers offer 12 different Medigap policies, 10 of which are basic plans with a relatively low deductible. They are referred to by one of the following letters: A, B, C, D, E, F, G, H, I and J. The two other plans, K and L, offer more coverage but have significantly higher deductibles.
First, and foremost, you should know that the benefits for each lettered plan are the same regardless of the insurer. For instance, everyone in New York, Alaska, Arizona, or Wyoming who has obtained a Medigap policy A has the same benefits. Second, the higher the letters the greater the coverage: Plan A offers the least benefits, while L offers the most. Third, because insurance is a competitive business, the premium charged for the same plan will differ among insurers, making it a good idea to shop around. Fourth, and most important, there are some instances where an insurer has to issue a policy despite your health. In them you do not even need to answer medical questions on a Medigap application. The details follow.
Medicare has two parts: A, which covers such things as hospital and nursing home costs, and B, which covers the costs of medical supplies and outpatient care. If you have both A and B and decide, within three months before to six months after your 65th birthday, you are in a guaranteed acceptance period for Medigap coverage. During that time, insurers are required to issue you a Medigap policy despite your health. You don’t even need to answer medical questions on a Medigap application. Even if your health is troubled, don’t let that deter you from obtaining a Medigap policy and the benefits it will give you.