Jane Dotson
Medicare Supplement, or Medigap, is an optional health insurance plan that works with Original Medicare (Parts A and B). The best time to buy a Medigap policy is during your Medigap Open Enrollment Period, which is a one-time, six-month period that starts the first month a person is 65 or older and has Medicare Part B. During this time, insurance companies cannot refuse to sell a Medigap policy and must offer it at the lowest possible rate, regardless of health status. After this period, your options to buy a Medigap policy may be limited and the policy may cost more.
| Characteristics | Values |
|---|---|
| Best time to buy a Medigap policy | During the Medigap Open Enrollment Period |
| Medigap Open Enrollment Period | A one-time, 6-month period that starts the first month a person is 65 or older and has Medicare Part B |
| Buying a Medigap policy outside of the Open Enrollment Period | Possible, but companies can refuse to sell or charge higher premiums |
| Buying a Medigap policy under 65 | Depends on state laws; some states allow anyone with Medicare under 65 to buy a policy, while others only allow it for specific reasons |
| Buying a Medigap policy with pre-existing conditions | Possible during the Open Enrollment Period, but may be denied outside of this period or subject to a waiting period |
| Buying a Medigap policy with employer coverage | Can delay enrolling in Medicare Part B and buying a Medigap policy until after retirement |
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What You'll Learn
- The best time to buy is during the Medigap Open Enrollment Period
- You can buy any Medigap policy sold in your state
- Guaranteed issue rights: when companies can't refuse to sell a policy
- You can apply for Medigap at any time of the year
- You may be able to buy outside of your Medigap Open Enrollment Period
The best time to buy is during the Medigap Open Enrollment Period
After the Medigap Open Enrollment Period, your options to buy a Medigap policy may be limited, and the policy may cost more. You may be able to buy a Medigap policy outside of this period if you have "guaranteed issue rights" or "Medigap protections", which you can check with your State Insurance Department.
If you are under 65 and have Medicare because of a disability or ESRD, you may not be able to buy a Medigap policy until you turn 65. Federal law does not require insurance companies to sell Medigap policies to people under 65, although some states do offer Medigap policies to people under 65.
If you are retired and over 65, you should consider applying for Medigap upon receiving your Medicare card, one to three months before your 65th birthday month. This will allow time for the application to be processed, and for Medigap coverage to start the same month that Medicare becomes effective.
If you are working, or your spouse is working, and you have health insurance through an employer group plan, you can delay enrolling in original Medicare and Medigap and avoid late enrollment penalties.
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You can buy any Medigap policy sold in your state
You can buy any Medigap policy sold by an insurance company in your state. However, not all plans are offered in every state, and if a state offers a plan, not all insurance companies sell policies for it. The benefits in each lettered plan are the same, regardless of the insurance company that sells it. The price is the only difference between policies with the same letter sold by different companies. Costs can vary widely between companies, so it is advisable to contact multiple companies that sell Medigap policies in your state to get an estimate.
It is important to note that federal law does not require insurance companies to sell Medigap policies to people under 65. Some states allow anyone with Medicare under 65 to buy a Medigap policy, while others only permit it if you are eligible for Medicare due to ESRD or a disability. If you have ESRD or a disability, you may have to wait until you turn 65 to buy the Medigap policy you want or any Medigap policy at all. Check with your State Insurance Department about your rights under state law.
The best time to buy a Medigap policy is during your Medigap Open Enrollment Period, which is a one-time, 6-month period that begins on the first day of the month you turn 65 or older and sign up for Part B. After this period, your options for purchasing a Medigap policy may be limited, and the policy may be more expensive. You have 63 days after your current Medigap coverage ends to buy a new Medigap policy. Your rights may be extended by 12 months in certain circumstances, so be sure to contact your State Insurance Department for more information.
When purchasing a Medigap policy, be sure to keep all letters, notices, emails, and claim denials from your previous coverage. You may need to include copies of these documents with your new Medigap application to prove you have the right to buy a new policy. Additionally, insurance companies are not allowed to use medical underwriting to decide whether to accept your application. They cannot deny you coverage due to pre-existing health problems. However, they can deny you a policy if you do not meet their medical underwriting requirements.
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Guaranteed issue rights: when companies can't refuse to sell a policy
There is no deadline for Medicare Medigap insurance. Instead, there is a one-time Medigap Open Enrollment Period during which you can purchase a Medigap policy. This period lasts for 6 months and begins on the first day of the month you turn 65 and enroll in Medicare Part B. During this period, insurance companies cannot refuse to sell you a policy, regardless of your health status. This is known as your guaranteed issue right.
After the Medigap Open Enrollment Period, your options to buy a Medigap policy may be limited, and the policy may cost more. However, there are certain situations in which you have guaranteed issue rights to a Medigap policy outside of the Open Enrollment Period. These situations include:
- Your Medicare Advantage (MA) plan terminates coverage. In this case, you must apply for a Medigap policy within 123 days of the end of your MA plan benefits.
- You move outside your MA plan's service area. You must apply within 63 days of moving.
- You joined an MA plan when you first became eligible for Medicare and want to switch to a Medigap policy during your first 12 months in the MA plan.
- You switch from a Medigap policy to an MA plan for the first time since becoming eligible for Medicare, and you disenroll from the MA plan within the first 12 months.
In addition, some states allow anyone with Medicare under 65 to buy a Medigap policy, while others only allow it if you are eligible for Medicare due to ESRD or a disability. Therefore, it is important to check with your State Insurance Department to understand your rights under state law.
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You can apply for Medigap at any time of the year
Medigap, also known as Medicare supplemental insurance, is a policy sold by private insurance companies. It helps people with Medicare cover some of the out-of-pocket costs associated with Parts A and B (original Medicare), such as deductibles, copayments, and coinsurance.
While the best time to buy a Medigap policy is during your Medigap Open Enrollment Period, Medicare enrollees can apply for Medigap at any time of the year. This is a one-time, six-month period that starts the first month a person is 65 or older and has Medicare Part B. During this period, insurance companies cannot refuse to sell you a Medigap policy, and they must offer you their preferred rates (the lowest price).
However, if you apply outside of the Medigap Open Enrollment Period, you may be charged a higher rate or denied a policy entirely. Companies can impose certain medical requirements, and you may be subject to a six-month waiting period before the Medigap policy covers pre-existing conditions.
There are certain situations where you may be able to buy a Medigap policy outside of your Medigap Open Enrollment Period. These situations are called "guaranteed issue rights" or "Medigap protections." For example, if your insurance company stops offering coverage in your location, they must sell you a policy that covers all your pre-existing conditions. In most cases, you have 63 days from the date your previous coverage ends to enroll in a new Medigap policy.
If you are under 65 and have Medicare because of a disability or ESRD, you might not be able to buy a Medigap policy until you turn 65. Federal law does not require insurance companies to sell Medigap policies to people under 65, but some states offer Medigap policies to this age group.
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You may be able to buy outside of your Medigap Open Enrollment Period
The best time to buy a Medigap policy is during your Medigap Open Enrollment Period. This is a one-time, six-month period that starts the first month a person is 65 or older and has signed up for Medicare Part B. During this time, insurance companies cannot refuse to sell you a Medigap policy, and policies must be offered at preferred rates. After this period, your options to buy a Medigap policy may be limited and the policy may cost more.
However, there are certain situations where you may be able to buy a Medigap policy outside of your Medigap Open Enrollment Period. These situations are called "guaranteed issue rights" or "Medigap protections," and they vary by state. Check with your State Insurance Department to see if you can buy a Medigap policy outside of your Medigap Open Enrollment Period and what rights you might have under state law.
For example, some states allow anyone with Medicare under 65 to buy a Medigap policy, while others only let you buy a Medigap policy if you're eligible for Medicare because of a disability or ESRD (end-stage renal disease). Federal law generally doesn't require insurance companies to sell Medigap policies to people under 65, but some states do offer Medigap policies to people in this age group.
In addition, you may have up to 63 days after your current Medigap coverage ends to buy a new Medigap policy. Your rights may last an extra 12 months in certain circumstances, so it's important to contact your State Insurance Department for more information.
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Frequently asked questions
The deadline for Medicare Medigap Insurance is the last day of the month in which you turn 65. This is a one-time, six-month open enrollment period that starts the first month you are 65 or older and have Medicare Part B.
Yes, if you have Medicare due to a disability or ESRD, you can apply for Medigap at any time after receiving your Medicare number. However, federal law does not require companies to sell Medigap policies to people under 65, so your options may be limited.
If you miss the Medigap Open Enrollment Period, you may be charged a higher rate or denied a policy entirely. You can contact Medigap insurers in your state to see if they will sell you a policy outside of the enrollment period, but they are not required to do so.
