Medicare has many different options. Some people don’t realize that there are actually options for coverage outside of your main Medicare plan. These additional options for coverage are Medicare Supplement plans, also known as Medigap.
Enrolling in Medigap is an excellent way to make sure that you’re saving as much money as possible. There are ten Medigap plans, each providing different levels of coverage. If you’re wanting to save a certain percentage on some Medicare costs, then Medigap could be the right choice for you.
It’s necessary to mention that Medigap is only available for those that are enrolled in Original Medicare. If you’re enrolled in Medicare Advantage and want to reduce your costs, then you should speak with an insurance professional. If you’re ready to take that step, we’re always here to offer advice when it comes to Medicare!
Medigap plans are a great way to save some money while still having access to the same great coverage. While they do relate to your Original Medicare policy, they are completely separate. This is important to note, as enrolling in Medigap will not technically impact your Original Medicare coverage.
When to Enroll
If you’re curious about Medigap, then you’re probably wondering when you can enroll. If you’re going to enroll in Medigap, you can do so as soon as you’re enrolled in Original Medicare. As soon as you’re 65 and your Part B coverage is effective, a six-month period known as the Medigap Open Enrollment Period will begin. This six-month period gives you the opportunity to enroll in a Medigap plan without the chance of being denied coverage or charged more because of health reasons you may have.
You can still enroll in Medigap after this six-month period has passed, but keep in mind that you may be subject to medical underwriting to determine your eligibility and how much an insurance company should charge you for monthly premiums.
In general, it is always best to enroll as soon as possible rather than wait.
Have Questions About Medigap? We Can Help
If you’re wanting to enroll in Medigap, we can help! We love working with new and previous clients and helping them through the enrollment process. If you’re ready to make an appointment, give us a call today!