What Questions Should I Ask Before Buying A Medigap Policy?



But before making any purchase, get answers to these questions about a medigap policy:

Is The Medigap Policy In Conformity With My State Laws?

What determines the type of Medigap policy offered for sell by Medigap insurance companies are what they are willing to offer and the law of the state you reside in. Which ever Medigap policy you buy is standardized and has particular benefits. You only have to compare benefits in making a decision for which to go for. You may not get all the available Medigap policy from a Medigap insurance company but you can be sure to get Medigap Plan A in any of these companies.

Is Medical Underwriting Employed In The Acceptance Of Any Medigap Policy Application?

As a general rule, Medigap insurance companies use medical underwriting in making a decision as to whether your application is acceptable or not. Medical underwriting is also necessary in deciding how much you are to pay for the Medigap policy not minding any health problem you may have. Application for Medigap policy within the period of the Medigap open enrollment is the only time this rule is suspended as medical underwriting is not compulsory then.

Do I Stand Any Chance Of Getting Some Incentives Or Discounts When I Acquire A Medigap Policy?

We all like discounts and incentives, aren’t we? Insurance companies that sell Medigap policy also offer these but on conditions. You may be a beneficiary of these discounts and incentives if you are a non-smoker, married, female, annually pay your entire premium or make use of electronic funds transfer in paying your premiums.

Are Medigap Policy Costs The Same With All Medigap Insurance Companies?

It is certain that you will find different insurance companies charging different amount for Medigap policy that are exactly the same. You need to compare costs charged by these companies before making your choice. The unevenness in costs may be as a result of discounts offer by some insurance companies which others frown at.



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