What to Consider
You may want to consider supplemental insurance if:
- You have primary health insurance, and
-
You are not financially prepared to pay for care that may become necessary due
to a catastrophic illness or accident.
When considering supplemental insurance, be aware of the following:
-
Supplemental insurance is not intended to take the place of primary health
insurance.
-
You are only eligible to purchase a Medicare Supplement policy if you are
eligible by reason of age for Medicare Parts A and/or B.
-
Medicare Supplement may be combined with other health insurance coverage such
as long-term care or specified disease but not with another Medicare Supplement
policy.
It is also important to know that your health may be evaluated in the
application process. There are factors that can determine whether or not you
will be approved for a policy. They can also impact the rates you will pay.
These include:
-
Your height/weight
-
Your age
-
Any medical conditions you may have
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Any treatments you may have had
-
Any medications you may be taking
There is an exception to the above. During Medigap open enrollment, a health
questionnaire may not be required and issue is guaranteed. This open enrollment
period lasts six months. It generally starts on the first day of the month in
which the applicant is both age 65 or older and enrolled in Medicare Part B.
There may also be other provisions for guaranteed issue.
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