Medigap Policies are purchased from private insurance providers after a person is age 65, and, after their Medicare Part B goes into effect. To qualify for acceptance into a Medigap policy, the person will need a Medicare B policy. Medigap Policies provide extra coverage for medical cost not covered by Medicare Part A or B. If you purchase your Medigap policy when you are first eligible, you can save money and avoid being turned down for preexisting health conditions. Also, people who enroll when they are first eligible are guaranteed acceptance on most plans.
Applicants can buy a Medigap policy during the open enrollment period. It lasts for three months after their Medicare B goes into effect. During this period, they will be accepted regardless of medical history, health problems, or, claims experience. If they have preexisting conditions, they can avoid a restriction due to health problems. Preexisting conditions are conditions that have been treated in the six months before a policy goes into effect.
Purchasing a Medigap policy will save applicants money over the years. Rates for coverage increase with age. People who apply at age 65 are given a lower rate than people who apply at age 70 years old.
People who enroll early for their policies have a larger selection of Medigap policies available to them. As applicants become older, some insurance companies deny them access to certain plans because of health issues.
If applicants enroll during their early enrollment period, or, before they reach the age when people are considered at high risk for certain ailments, they will probably receive their coverage. Also people with disabilities are guaranteed a policy or choice of policies if they enroll early.