Annual Open Enrollment Period for Medicare Supplement
The belief that there is always an annual open enrollment period is one of the most common mistakes that many Medicare members make with Medicare supplemental insurance. This is just not the case. Most seniors have the belief that the annual period is the only time of the year when they can sign up for supplementary policy change their current policy. However, you can change policies at any time with respect to Medigap policies; there is no defined registration period.
One of the main reasons most seniors get it wrong is that there is an annual reporting period for Medicare Part D and Medicare Part C, often misnamed as a Medicare supplement. It is not really a Medicare supplement policy. For these types of policies, Medicare Part C and Medicare Part D, the filing period is currently November 15 and December 31 of every year.
However, the end of the year is still a good time to review your Medigap insurance and make the necessary changes. Medigap insurance does not change every year, unlike Medicare Part D BS Medicare Advantage. The policy’s insurance is the same over time; However, your rates may change every year. Some companies change prices according to the age of the recipient (this usually happens around his birthday), some other companies change prices every year and other companies change prices on the anniversary date of their policy. In any case, it is very likely that as your price changes, you can switch to an equivalent policy from another company and save money on your insurance.
The best time for any of these types of insurance policies is when you are approximately 3 months old starting at age 65. This will give you enough time to receive the policy, your ID cards by mail and your doctor’s selection. Though with your Medigap coverage, you can see any hospital or doctor that accepts Medicare policy. Visit www.medisupps.com/medicare-supplement-plans-2019/ to get quotes and info on medicare supplement plans.
Medicare supplements provide better insurance of medical services and a wider network coverage. Most Medicare supplements insure many or all of your Medicare deficiencies and generally cost below $150 monthly in most states of the nation. Your network is made up of the Medicare networks, which is quite an elaborate network of medical centers accepted by Medicare. When a doctor takes out health insurance, he usually takes out your health insurance policy (irrespective of the company where you buy it). Your Medicare Part A and B remains your primary insurance. Therefore, Medicare always decides if your medical expenses are insured and the supplement only has to pay the difference.
Now, it is advisable to re-evaluate your Medicare / Medigap Supplement insurance at least every 2 years, since insurance is a rapidly changing field in which you need to know current rates and trends. Medicare supplement rates have decreased in many parts of the country during the past year, as new companies entered the market and new policies were launched (Medigap Policy N). Finally, though it is not necessary to re-evaluate your policy during the next annual enrollment phase, this is the right time to do so.