Are You About To Turn 65?
Posted by Todd Fries | Filed under FAQ, Health Insurance
If so, you will soon be eligible to enroll in Medicare Parts A and B and therefore want to start looking into a Supplemental Medicare or “Medigap” insurance policy ASAP! A Medigap policy is private Health Insurance that’s designed to supplement Medicare. It’s typically sold through the same carriers that sell standard health insurance like Anthem Blue Cross, Blue Shield, and Health Net just to name a few. It helps pay some or all of the health care costs (”gaps”) that Medicare doesn’t cover such as co-payments, coinsurance, and deductibles.
Every Medicare policy must follow Federal and State Laws designed to protect you regardless of which carrier you purchase the policy through. Medigap Insurance can only be sold as a “standardized” policy identified by letters A through K. Each standardized Medigap Policy must offer the same basic benefits, no matter which company sells it, and therefore cost is usually the only difference between Medigap policies sold by different insurance companies.
Anyone that is enrolled in Medicare Part A and B is eligible is for Medigap insurance.
But in order to take advantage of the open enrollment period even with a “pre-existing condition“, you must enroll within the first 63 days that you have Medicare. Otherwise, you are subject to underwriting as well as a possible waiting period for “pre-existing conditions”.
Therefore, once you’ve enrolled in Medicare and have Parts A and B, it’s imperative you call me ASAP to discuss enrolling in Medigap! Let me help you sift through the documents and requirements. This option is fairly inexpensive and really fills the “gaps” where Medicare leaves off.
To contact me call: (323) 464-TODD (8633) or toddshealthinsurance@gmail.com
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