Who can avail of Medicare Supplement Insurance?

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The short answer is, those who already have Medicare. But the requirements and other circumstances go further. Americans become eligible for Medicare when they turn 65. Moreover, the open enrollment period or the window wherein enrollments in Medigap are welcomed and uniform in premium price regardless of the health of the future policyholder, starts on the first day of the month the latter turns 65. This will be a six-month window thereon.

The Open Enrollment period is crucial for people with health problems. Buying Medicare Supplement Insurance during this time saves a lot on additional premiums insurance companies might charge for those with health problems.

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 Meanwhile, those with health coverage provided by their employer and union might find themselves tempted to avail of a Medigap policy right away. This could be costlier for certain reasons. One is that employer health coverage usually covers benefits similar to those in Medigap. Those with employer health coverage could then defer enrollment in Part B of Medicare (a prerequisite for Medigap) because this will set off the open enrollment period, even when one does not intend to avail of Medigap.

The age exemption for Medicare eligibility applies to those with End Stage Renal Disease (ESRD) and those with Social Security Disability Insurance (SSDI). At this point, however, their purchase of Medigap policies is optional, and insurers are prohibited by law to sell Medigap policies to people below the age of 65.

State Mutual Insurance started out as a group of friends who wanted to give service to the community back in the 1930s. For 70 years, the company has been providing quality Medicare Supplement insurance, following its commitment to give American citizens their right to complete health security. Read more about Medicare Supplement Insurance on this blog.