People on reaching the age of 65 tend to qualify for initial Medicare enrollment period. It is at this time that one can buy their Medicare Supplement plans without having to answer any health related questions. Generally, the person is eligible to get one time initial enrollment period, which begins 3 months prior to the month of Medicare eligibility. It ends 3 months after the eligibility month, which is typically the month of the individual’s 65th birthday.
Retired men and women are provided with a wonderful opportunity to derive Medicare health insurance and Medicare Supplement plans during initial enrollment period. Insurance providers during this time are required to use medical underwriting for determining, if they will accept the application or not. During the initial enrolment period, the providers will not be able to deny any of the Medicare Supplement plans selected by the beneficiary, citing health reasons. However, one should understand that people at the age of 65 and having Medicare, because of disability, are likely to be eligible for 2nd initial enrollment period.
More about Medicare Supplement plans
Supplements in majority of the cases, do pay what is not otherwise covered by the original Medicare at the doctor’s or hospital office. Also, most of the prescription drugs are not covered by supplements.
In case of drug coverage, it will be wise to enroll with a Prescription Drug plan also called Part D. It is voluntary and separate and can help lower down prescription drug out of pocket expenses. Part-D drug plans are offered by private insurance providers. Even though Medicare Part D is considered to be voluntary, the truth is that those not enrolling with any qualified drug plan especially when first becoming eligible to avail Medicare are likely to face unwanted consequences. The penalty can be a monthly fine that needs to pay for each and every month that the person could have enrolled, but has avoided. Penalty can be lifetime carry that might surprise many.
It will be wise and useful to compare the benefits and rates of different Medicare Supplement plans, so as to choose the best one. Also, it is necessary to compare the different providers in the region and check out their customer care service to ensure they offer prompt services as and when required. With all the supplement plans standardized, the only difference witnessed is the price difference that exists between companies.