The Most Important Six Months of Medicare

Failure to understand the six-month rule could place your health care in jeopardy.  What is this most important six-month rule? If you do not enroll in a Medicare Supplement when you first go on Medicare Part B or within the first six months of your Medicare Part B effective date- you may never be eligible for a Medicare Supplement.

You have six months from the date you become eligible for Medicare Part B to enroll in a Medicare Supplement of your choosing without having to go through medical underwriting.  This means the insurance carrier must issue your Medicare Supplement on a guaranteed issue basis. If you attempt to enroll in a Medicare Supplement after six months you must complete a medical questionnaire for the insurance company.  The insurance company will review the answers to the questions to make sure the “risk” is acceptable to the company.  If it is not acceptable you will be denied the insurance.

Several months ago, I had a good friend approach me for a Medicare Supplement.  In completing the medical questionnaire, I discovered he had had a Melanoma skin cancer.

The insurance company determined that the Melanoma was not an acceptable medical risk.  The policy was denied.

To avoid putting yourself in such a situation please pay attention to the six-month rule.

Make sure you make application for your Medicare Supplement within 6 months of going on Medicare Part B.

If you are considering enrolling in a private Medicare Advantage plan you need to make sure you clearly understand the benefits and the potential consequences.  Many times, these plans tout lower monthly cost.  But these lower monthly costs come with much higher cost in the form of copayments, deductibles and coinsurance amounts when you use the plan. If you enroll in a Medicare Supplement plan you eliminate the risk of having to pay thousand or even tens of thousands of dollars in unplanned costs if you get sick.

There is great comfort to be found in knowing that as we get older our medical expenses will be limited because we have chosen a Medicare Supplement.  In our practice, we have found our clients to be very attracted to Supplement F and Supplement G.  Both these supplements pay basically 100% of whatever Medicare does not pay if it is a Medicare covered expense and you seek the services of Medicare contracted providers.

For further information regarding the benefits of Medicare Supplements please go to our website www.medigappro.com.  Or call our office at 1-800-835-8016.  The Medigap Pro has developed a reputation for superior service and expertise in all things related to Medicare.

Ted Guy, The Medigap Pro