Once you are enrolled in Original Medicare you have the right to choose a Medigap plan (aka Medicare Supplement) within 6 months of your Medicare Part B effective date. What happens if you don’t sign up for a Medicare Supplement plan during this time?
What If I Don’t Sign up for a Medigap Plan on time?
- You’ll have to answer a set of health questions on the application
- You will go through Medical Underwriting (they will check your medical history). If that’s your situation, our Instant Medigap Underwriting Checker is a handy tool that can give you insight into whether you’ll be approved for medical underwriting.
- You might have to take a physical (this varies by insurance provider)
- If you have a preexisting condition you may be turned down for Medigap coverage
- If you are accepted, you may pay a higher monthly premium, called Standard Medigap plan
- If you need services during this time you are without Medigap, you will be responsible for the gaps in Medicare coverage which could costs thousands of dollars in out-of-pocket costs each year
Isn’t Medigap Open Enrollment Every Year?
No, Medigap open enrollment only happens within 6 months of your Part B effective date. Medicare Advantage (which is very different) has an annual open enrollment but Medigap does not. If you let the 6 months pass, you have missed your Medigap open enrollment period and will be subject to the above list of bullet points. There is a Medigap Special Enrollment Period that offers guaranteed insurance for certain people who have unique situations such as their Medicare Advantage company is no longer operating.
If you are not sure you are within your Medigap Open Enrollment period, please call the number above. If you are ready to apply, please click here to an instant Medigap quote and enroll today.