Guaranteed issue rights allow you to enroll in a Medicare Supplement policy without having to wait to start receiving coverage for pre-existing conditions. If you do not qualify for an exemption, you must wait six months before your pre-existing condition is covered.
Cancer, cardiovascular disease, and asthma are all examples of pre-existing conditions. Medicare coverage is unaffected by pre-existing conditions, although Medigap coverage may be. Insurers may take longer to approve you for a Medicare Supplement plan if you have a pre-existing ailment.
About Medicare Supplement Plans and Pre-Existing Conditions
Private insurance providers provide supplemental Medicare coverage. If you don’t enroll in a Medigap policy within your eligible enrollment period, the insurer may consider your medical history when deciding whether or not to cover you.
If this period has elapsed and you do not have assured issue rights, you will be required to respond to underwriting health questions throughout the insurance application process. The typical waiting period for pre-existing conditions is to be covered in six months.
Once your insurance goes into effect, the six months waiting period will begin to run. These waiting periods for pre-existing conditions are particular to Medigap coverage.
Pre-Existing Conditions: Does Medicare Supplemental Insurance Cover Them?
Medicare Supplement plans cover part A copayments unrelated to a pre-existing condition during the first six months of coverage. In most cases, insurance companies won’t pay for doctor’s visits related to pre-existing conditions.
Medicare may pay for a portion of your medical expenses, but the remaining balance will be your responsibility to pay. The reason is, unlike Medigap, Medicare does not need a waiting period for coverage of pre-existing conditions.
Patients with pre-existing conditions who enroll in or switch to a Medigap plan outside the OEP should set aside enough money in their budget to meet their anticipated medical expenses for at least six months.
Conclusion
The thing that will help you the most is to enroll in a Medigap plan while you are still in the open enrollment period for that plan. This is true regardless of whether or not you already have a pre-existing condition. Many consumers, however, wait until it is too late to catch up to this opportunity.
At Lapeira & Associates LLC, we put our clients first by offering them policies that they can afford. Nowadays, insurance is a must, and we’re here to help you get it. Call our agency at (855) 963-6900 for more information about our services. CLICK HERE to get a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!
