When you are near or past your retirement, health coverage becomes a more significant concern.

As they lose coverage through an employer, most seniors opt for Medicare individual health insurance coverage; however, it might not be enough to meet your needs nowadays. When you start hearing insurance terms such as supplement insurance, Mutual of Omaha Medigap open enrollment, and so on, this new world becomes confusing. This is why we are going to clear some things up about Medigap to eliminate any confusion.

What exactly is Medigap, also called Medicare Supplement Plans?

Private health insurance companies sell Medicare Supplement Plans plans, popularly known as Medigap. These plans are meant to fill the gaps in basic Medicare coverage, which usually amounts to about 20% of your health expenses. Basic Medicare plans have plenty of gaps, including copays, custodial care, skilled nursing, vision checkups, and glasses, along with other essential health care services.

In short, Medigap is supplementary insurance that will fill cover you when Basic Medicare doesn’t. There are 11  Aetna Medicare Supplement plans, namely A, B, C, D, F, F,  G, K, L, M, N. Each plan offers varying coverage levels. However, all of these plans give you similar essential benefits, including coinsurance payments, hospice copayments, along with other crucial basic medical care coverage. These plans offer the same coverages no matter which provider you buy from, but not all providers cover all plans in all states.

When can I enroll in Medigap open enrollment?

The ideal time to enroll in Medigap is during the initial enrollment period. This period refers to a seven-month period that automatically starts three months before you turn 65 years old in the US. The best part is that even if you have underlying health issues, you can still buy a Medigap policy at the same price as someone who doesn’t have health issues during the initial enrollment period. After that, annual open enrollment is in effect from October 15th to December 7th. During this period, you can avail of any of the Medigap supplement plans available in your state. 

Buying a Medicare Supplement plan outside of the open enrollment period

As per the guaranteed issue right, a person who is in their initial enrollment period has a guaranteed right to buy a Medigap policy. Insurance companies cannot deny you coverage regardless of your health status. This right is meant to protect the insurance buyer because it prevents insurance companies from imposing a waiting period if the applicant has health problems. While the best available rate for a Medigap plan is affected by different factors, you can still buy Medigap plans outside of the enrollment period if you happened to miss the open enrollment period.  

If you missed the Medigap initial enrollment period, it is usually not a cause of worry. However, underwriting may be required after your initial enrollment. A Medicare Agent can help you navigate your options to get the best coverage at the lowest price.

Getting Medigap is easy with a little help

If you want to avoid all the complications of the process for enrolling in Medigap, you can simply contact The Benefit Link.   The benefit link is not affiliated with any insurance provider, and they offer their services free of charge. So you can simplify the process of getting a Medigap plan by availing of some expert help.