This time of the year, with the Medicare open enrollment window approaching, brings up many questions. We gathered the top 5 most frequently asked Medicare questions and gave you the basic, bottom line answers.
5 Frequently Asked Medicare Questions
Q: When is the best time to buy a Medicare Supplement?
A: During your 6 month open enrollment period. This period automatically starts the month you turn 65 (that’s your birth month) and enrolled in Medicare Part B. Most insurance companies will allow you to purchase a Medicare Supplement up to six months prior to that time as well.
Q: Can an insurance company deny me coverage?
A: NO! When you first turn 65 and in your 6 month open enrollment you can’t be denied coverage.
Q: If I apply for a Medicare Supplement after my open enrollment can I be denied coverage?
A: Companies can use medical underwriting after your six month open enrollment. If you don’t meet the medical underwriting requirements you may be denied coverage.
Q: Will the companies use the same medical underwriting requirements?
A: Companies all have their own medical underwriting requirements. This means what one company may not accept, but another company may.
Q: How should I pay for my Medicare Supplement?
A: It’s best to pay by bank draft, check or money order. Paying by bank draft insures that you won’t forget to make your payment monthly and help prevent your policy from lapsing. Many companies will also give you the best rate when you sign up for bank draft.
If you should have a question that is not on our list or more specific to you, please feel free to call us toll free 855-205-4928. There never is a charge to have some Q&A time with one of our Customer Care Specialists.
Did you know that we also offer an anonymous Medicare Quote? You can compare plan rates from all the top insurance companies side by side – right from the comfort of your own home.