Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
You can apply for a Medigap plan at any point during the year - Medigap plans are not subjected to the same restrictions as Parts C & D of Medicare.
You can complete an application up to 3 months in advance of the proposed effective date for the coverage - please note, you have to have both Medicare Part A & Part B to buy a Medigap plan. For example, if your effective date is April 1st, you could apply as early as January 1st. And vice versa - you can set the effective date up to 3 months later from the application date (most will set it up for the 1st of the following month though).
The effective date for your Medicare Part B coverage is also the starting point for your initial open enrollment period - a 6-month window where you can buy any Medigap plan from any carrier with NO medical underwriting (this is the best time to buy a Medigap plan). Beyond this window, you will be required to answer health questions on the applications and go through medical underwriting (there are no exams though), unless you have a qualifying event for a guaranteed-issue right.
You should work through a broker who can shop the case for you and find you the desired Medigap plan at the lowest possible cost. It's important to review your Medigap plan every year to see if a lower rate is available after the initial rate lock guarantee expires and/or when you have a rate increase. The benefits of a Medigap plan do not change from company to company - they are exactly the same. A plan F from one company features the exact same benefits as a plan F from another company.
I hope the information is helpful - please feel free to contact me for assistance with your Medigap coverage and if you have any other questions. Thanks very much.
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You can complete an application up to 3 months in advance of the proposed effective date for the coverage - please note, you have to have both Medicare Part A & Part B to buy a Medigap plan. For example, if your effective date is April 1st, you could apply as early as January 1st. And vice versa - you can set the effective date up to 3 months later from the application date (most will set it up for the 1st of the following month though).
The effective date for your Medicare Part B coverage is also the starting point for your initial open enrollment period - a 6-month window where you can buy any Medigap plan from any carrier with NO medical underwriting (this is the best time to buy a Medigap plan). Beyond this window, you will be required to answer health questions on the applications and go through medical underwriting (there are no exams though), unless you have a qualifying event for a guaranteed-issue right.
You should work through a broker who can shop the case for you and find you the desired Medigap plan at the lowest possible cost. It's important to review your Medigap plan every year to see if a lower rate is available after the initial rate lock guarantee expires and/or when you have a rate increase. The benefits of a Medigap plan do not change from company to company - they are exactly the same. A plan F from one company features the exact same benefits as a plan F from another company.
I hope the information is helpful - please feel free to contact me for assistance with your Medigap coverage and if you have any other questions. Thanks very much.