You’ve decided that you want to go into a Medigap plan, also known as Medicare supplement, and you’re concerned the preexisting conditions affect your coverage. Do they affect your costs? Well, it depends. It depends on whether you’re already in a Medigap plan, whether you have a Medicare Advantage plan and for how long, whether you’re coming into Medicare for the first time and you’re in your open enrollment period. I’ll give you a quick explanation. This is Jamie Sholom with Seniorstar Insurance Group. Welcome to the Seniorstar Minute.
When you’re enrolling in Medicare for the first time, when you’re turning 65, there will be no preexisting conditions that anybody can pay attention to, no matter what kind of Medicare plan you want to go into if you want to go into a supplement plan at that point. You can do it with any company or any plan that provides those policies in your area. Now, if you’re coming off of existing Medicare insurance, whether that be a different supplement plan, maybe you’re looking to lower your rate.
Maybe you’re looking to switch plans or companies. Or if you’re coming off a Medicare Advantage plan and you want to opt out of that. You may have to answer health questions now, these insurance companies can deny you coverage if you have certain criteria met, certain chronic conditions, certain combinations of conditions. If you’re on certain medications, they can say no, which will make your ability to lower your costs or save money much more difficult. Now, there are other situations where they would where insurance companies with Medigap plans would have to give you what’s called a guarantee issue, meaning they can ask your health questions, but under limited circumstances.
And you would have a limited option in terms of what type of Medigap plan and which company to go into. If you need any more information or if you have any questions about your specific situation, please give me a call. My phone number, my website there on the screen. It’s been a pleasure to talk to you. Hope to hear from you soon.
