Purchasing Your First Medicare Supplement Policy
Understanding your initial Medigap Open Enrollment Period is important. If you’re nearing 65 and have questions about your Medicare enrollment, we encourage you to review the information below.
When’s the best time to buy a Medicare Supplement policy?
The best time to buy a Medicare Supplement policy is during your Medicare Supplement Open Enrollment Period. This period lasts for 6 months and begins on the first day of the month in which you’re both 65 or older and enrolled in Medicare Part B. Some states have additional Open Enrollment Periods including those for people under 65. During this period, an insurance company can’t use medical underwriting.
Open Enrollment Period (Medicare Supplement) – A one‑time-only, 6-month period when federal law allows you to buy any Medicare Supplement policy you want that’s sold in your state. It starts in the first month that you’re covered under Medicare Part B, and you’re 65 or older. During this period, you can’t be denied a Medicare Supplement policy or charged more due to past or present health problems. Some states may have additional Open enrollment rights under state law.
Guaranteed Issue Rights – These are rights you have in certain situations when insurance companies must offer you certain Medigap policies. In most cases, you have a guaranteed issue right when you have certain types of other health care coverage that changes in some way, like when you lose the other health care coverage. Below is a chart to help you understand your guaranteed issue rights.