Medicare Supplement Plans, what are Guaranteed-Issue Rights

Medicare supplement insurance is very important as it offers cover for the costs that is not covered by the Original Medicare policy. Thus it offers a cover benefiting the insurance holder of Medicare Supplement Plans.  However, during Medicare Supplement open enrollment period, it is the best time to get enrolled with Medicare Supplement Plans.

 

The open enrollment period is the time when you attain 65 years and you are allowed to enroll with a Medicare Supplement insurance Company. This is considered the best time as the insurance company has no right to reject your enrollment process even if you have health reasons. Though, the company may make you wait for a period of six months. However, after the six-month period, your plan will cover all the pre-existing conditions.

 

There are provisions that you can apply even after the open enrollment period for Medicare Supplement plans. However, the insurance company will enroll your only if you have guaranteed-issue rights or may demand you to undergo medical underwriting.  If you have to undergo medical underwriting, the charges will escalate depending on health problems, besides there is no surety of getting any plan accepted for you.

What are Guaranteed-Issue Rights?Find more information http://www.medigapplansguide.com.

Medicare Supplement plans featuring guaranteed issue rights means it protects you from undergoing the procedure of medical underwriting. Generally, the health insurance companies use data and health history on pre-existing conditions to determine if they will or not cover you and the amount they will charge as coverage.  This is termed as medical underwriting.

 

There are chances to avoid medical underwriting and this is possible in two situations:

  • During Open enrolment period that begins from the day you are 65 and goes for six months from that date and if you are already enrolled in Part B Medicare.
  • If you possess guaranteed-issue rights. This right occurs when you lose health insurance in uncontrollable situations or if you are exercising some trial now.

 

How to avail guaranteed-issue rights?

The guaranteed-issue rights are limited usually to Medicare Supplement plans A, B, C, F, L and K. It excludes M, N, G and D also that are offered in most states during open enrolment period.  You can avail guaranteed-issue rights during certain situations where you have:

 

  • Medicare Advantage plan.
  • Original Medicare plan (Part A and B) in combination with group health plan.
  • Original Medicare and Medicare SELECT policy
  • Trial due or claim of Medicare Advantage
  • Dropped Medigap to join Medicare Advantage or wish to switch to Medicare policy
  • Lost Medicare Supplement policy