Medicare Supplements

Turning 65 can bring a stack of mail, a lot of decisions, and a handful of important deadlines. One of the most important choices is understanding how you want to handle the costs Original Medicare doesn’t cover.

A Medicare Supplement (Medigap) plan works alongside Original Medicare and helps pay certain out-of-pocket costs, such as deductibles and coinsurance. With a Medigap plan, you can generally see any provider who accepts Medicare.

One of the most important windows to understand is your Medigap Open Enrollment Period. It begins when you are 65 or older and enrolled in Medicare Part B and lasts for six months. During this period, you generally have important protections when purchasing a Medigap policy, including the ability to buy certain plans without medical underwriting.

Once that window ends, you may have to answer health questions or meet other underwriting requirements, depending on your circumstances and the plan you choose. Certain situations can provide additional rights to purchase a Medigap policy.

If you or someone in your family is approaching 65, don’t wait until the mail starts piling up. Taking time to understand your options before the deadlines arrive can make the transition to Medicare much easier.

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