Medicare Supplement Plans, commonly known as Medigap, are among the most popular Medicare-related policies. Eligibility is mostly dependent on enrolling within a certain timeframe. This exact period of time can vary depending on circumstance.

What Do I Need To Qualify?

First, you need to be enrolled in Medicare. And in order to get Medicare, you must either be 65 or over, or have a disability if you’re under the age of 65.

All states offer Medicare Supplement Plans to Medicare policyholders 65 and over, but not every state requires companies to issue policies to those under 65.

Why Does Timing Matter?

Medicare Supplement Plans are not guaranteed issue, unless you join during the Medigap Open Enrollment Period or have guaranteed issue rights due to being in special circumstances.

Guaranteed issue means you can’t be turned down for a policy, and that you will not be subjected to higher rates due to age or health. If you wait past a certain point, there’s a chance you’ll never be able to acquire a Medicare Supplement Plan in the future.

Timing also plays a role in the exact Medicare Supplement policies you’re eligible for. Medicare Supplements come in Plans A, B, C, D, F, G, K, L, M, and N. But if you turned 65 on or after January 1, 2020, Plans C and F won’t be available to you.

What Is The Medigap Open Enrollment Period?

The Medigap Open Enrollment Period is based on when you join Part B and when you turn 65. This period starts when you’re 65 and enrolled in Part B. If you joined Medicare prior to your 65th birthday, this enrollment period won’t begin until the first day of the month you turn 65. Medigap Open Enrollment only lasts for six months, so it is imperative to join when you can.

What Are Other Qualifying Situations?

Other special circumstances that allow you to enroll in a Medicare Supplement Plan revolve around losing current coverage, giving you a chance to have a guaranteed issue Medicare Supplement Plan within 63 days after losing coverage.

Situations include:

• Having Medicare and Medicare SELECT, and moving out of your Medicare SELECT service area
• You have Medicare Advantage, and your insurer either stops offering Medicare or moves out of your service area, or you move out of your plan’s service area
• Deciding to go back to Original Medicare after having Medicare Advantage for less than a year
• Your Medigap insurer goes out of business, or you lose your supplement coverage for reasons beyond your control

If one of these applies to you, it’s a good idea to obtain copies of documents that show proof of coverage ending.

Take Advantage Of Your Eligibility

At Medicare Sharks, we aim to help you get the best of what you’re eligible for, which in the case of Medicare Supplements, can mean making out-of-pocket costs a thing of the past. There’s no better time than right now to learn more. Call us today at (561) 288-2080, or at (561) 288-2396.