Buy Medicare Supplement Plans during Annual Enrollment Period - Golden Opportunity

Medicare Supplement Plans are the best type of health insurance available to seniors over the age of 65. People who purchase these plans can visit almost any doctor, hospital, or specialist and often pay very little or nothing at all for these services. The only problem with Medicare Supplement Plans is the companies who offer this type of insurance have underwriting guidelines, which can make it tough to qualify if you have pre-existing conditions. Using guaranteed issue guidelines to purchase one of these plans can make a huge difference in the quality of care you receive and your out-of-pocket expenses for hospital and physician services.

The most commonly used guaranteed issue period is the initial enrollment period, which begins on the first day of the month in which you are both enrolled in Medicare Part B and over the age of 65. This period extends for six months and you can enroll in any plan with any company during this time without answering any health questions. The majority of seniors purchase Medicare Supplement Plan F during their initial enrollment period, but over the past few years many have been persuaded to purchase Medicare Advantage Plans, which offer inferior coverage.

The second most popular guaranteed issue period occurs when seniors choose to work after their 65th birthday. During this time they are often covered by employer plans, which offer superior coverage to original Medicare. However, when they finally retire and leave their employer plan, they have a 63 day guaranteed issue period where they can enroll in the plan of their choice. This guaranteed issue period also includes people who have retired, but are still covered on their previous employers plan.

Medicare Supplement Plans almost always offer superior coverage to Medicare Advantage Plans, which is why many people are choosing to enroll in original Medicare and purchase supplemental insurance. Thousands of seniors over the past few weeks have received letters notifying them their coverage with their current advantage plan will be terminated at the end of the year. These people have a special guaranteed issue period, where they can enroll in any type of plan with any company without answering any health questions. People who have health issues should use this period to purchase a Medicare Supplemental Insurance plan.

Seniors who have purchased Medicare Advantage Plans within the past two years may also be able to shop for Medicare Supplement Plans and can qualify for guaranteed issue as well, particularly if that was their first time purchasing a Medicare Advantage Plan. Many people will likely use this little known rule to purchase a superior plan, particularly if they are unhappy with their current coverage. This is becoming more prevalent as doctors and hospitals are not accepting these types of plan as often.

Medicare Supplement Plans are the best option for seniors, particularly if they have complex medical issues that require special attention. Furthermore, with this type of insurance you have more options regarding whom you can visit, and have less out of pocket costs for medical services rendered. Due to the complex underwriting guidelines, it is best to purchase one of these plans during a guaranteed issue period, which many will have over the next few months.

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