There are high chances that you already have some health issues when the new health care benefits starts. These medical conditions are known as pre-existing conditions. In case of Medicare supplement plans pre-exiting conditions can be your health condition before the plan you have chosen starts. Original Medicare will provide you all Medicare benefits irrespective of any pre-existing condition but in case of enrolling into a supplement plan you need to be a bit careful.
Impact of pre-existing conditions on Medicare supplement eligibility
Private companies offers you the Medicare supplement plans. The benefits that you receive for each plan remains unchanged irrespective of the insurance company you choose. However, insurance companies can charge you different premiums for providing the same coverage.
Thus, while you are to buy a Medicare supplement plan you need to compare the rates from different insurance companies. They will provide your rates based on your pre-existing conditions. It is best for your interest that you compare the rates so that you do not end up overpaying.
Open enrollment period are best for purchasing Medicare supplement
If you can buy the Medicare supplement during the open enrollment period then you will be able to get the best deal. It is a period of 6 months that starts from the first day of the month you have your birthdate and the enrollment in Medicare Part B.
It is advisable to avail a Medigap policy during this period because the insurance companies cannot charge you extra just because you have pre-existing conditions. However, this facility is valid during these six months only. They have to provide you a supplement plan if you have asked for it. Your pre-existing conditions cannot be a cause for denying or charging you extra.
Purchasing a Medicare supplement after open enrollment
By chance if you are not able to buy a plan within the open enrollment period you have to buy it later and then things become a bit tricky. Insurance companies will ask for underwriting and then based on your medical history they will decide whether they should accept your application. If they accept they will also decide upon how much should they charge you for the supplement plan! You need to meet the underwriting requirements so that your application for getting Medicare supplement is granted.