Medical underwriting can play a large part in the costs and coverage you can receive with a Medigap policy. When you have a Medigap policy it covers many costs that regular Medicare does not cover. It is available for the first six months after you are accepted into a Medicare Part B plan without any medical underwriting requirements. After this open enrollment period, you are subject to any policy underwriting that the insurance carrier requires.
Medical underwriting translates into costs and coverage. During the open enrollment period of a Medigap policy the insurer must accept you regardless of pre-existing conditions, age or geographical location. However, after that enrollment period you are subject to these conditions and may pay higher premiums or be denied coverage. It is very important if you are going to use a Medigap plan that you utilize the open enrollment period to your advantage.
Open enrollment is controlled by the state. Some states, such as Florida, have a specific time each year that allows for open enrollment, regardless of when you first began receiving benefits. Each state is different and you must check with your state insurance office to find out if you have other open enrollment periods. There have been many changes to the Medicare and Medigap insurance coverage this year. You should take the time to review any and all information that has been sent to you to see how anyof these changes may affect you or your Medigap policies. 4 types of plans have been discontinued while 2 new plans have been added.