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Forums » Health » Medicare & Insurance » Medigap enrollment now & in the future vs. Medicare Advantage Plans
Medigap enrollment now & in the future vs. Medicare Advantage Plans
posted at November 2, 2012 11:17 AM EDT
Re: Medigap enrollment now & in the future vs. Medicare Advantage Plans
posted at November 3, 2012 12:00 PM EDT
First: November 27, 2011
Last: March 9, 2014
In Response to Medigap enrollment now & in the future vs. Medicare Advantage Plans:
I will be joining Medicare in a few months and am trying to understand the myriad complexities of the system. Please tell me if I am correct about the following.
(1) If I do not enroll in a Medigap plan during my initial (age 65) enrollment period, there is a chance that in the future I may be denied enrollment in any Medigap plan by the insurance companies.
(2) If I enroll in a Medicare Advantage Plan during my initial (age 65) enrollment period, re is a chance that in the future I may be denied enrollment in any Medigap plan by the insurance companies.
(3) If the above statement are true, does this mean that enrolling in a Medigap plan may be preferable to enrolling in a Medicare Advantage Plan? In other words, if I do not want to be frozen out of enrolling in a Medigap plan in the future, I should enroll in such a plan during my initial enrollment period?
Posted by grapevine42
YES, here is what Medicare says- see the link and the quotes below. Medigap premiums rise usually yearly. My mother had a Medigap for years and years same policy for about 30 years - initially the increases were only about $ 10 a month but that is $ 120 a year. In 2012 her premium rose $ 26 per month or $ 312 a year MORE - Her total cost for her Medigap policy for 2012 was $ 2664 or $ 222 per month. Actually her particular Medigap plan was terminated for new enrollees years and years ago - it was a good policy.
You must also understand that Medicare can discontinue some Medigap Plans and devise others - those that are discontinued still work as long as you pay your premiums but they are closed to new enrollees. I have a link at the bottom of this post to a Medicare booklet on Choosing a Medigap Policy (2012).
Your choice as to
1. Traditional Medicare and a Medigap policy plus a Prescription Drug Plan
2. A Medicare Advantage Plan offered in your area which might include Prescription Drug Plan
is YOUR decision and should be based on YOUR health and finances but if you want Traditional Medicare and a Medigap, you should do it during that initial enrollment because later on there could be reasons why you could not get a Medigap policy. But remember you will also have to have a Prescription Drug Plan too.
Straight from the horses mouth:
Medicare: When Can I Buy Medigap (Supplemental Medicare) Insurance?
"Buy a policy when you're first eligible
The best time to buy a Medigap policy is during your 6-month Medigap open enrollment period, because you can buy any Medigap policy sold in your state, even if you have health problems. This period automatically starts the month you're 65 and enrolled in Medicare Part B, and once it's over, you can't get it again."
"Outside open enrollment
If you apply for Medigap coverage after your open enrollment period, there's no guarantee that an insurance company will sell you a Medigap policy if you don’t meet the medical underwriting requirements, unless you're eligible due to one of the situations below.
In some states, you may be able to buy another type of Medigap policy called Medicare SELECT. If you buy a Medigap SELECT policy, you have rights to change your mind within 12 months and switch to a standard Medigap policy."