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When is the Best Time to Purchase a Supplement to Medicare?

Medicare Supplement Policies (or Medigap) are extra health insurance policies that cover the cost of health care needs that aren’t covered by your original Medicare policy. Private insurance companies like Santa Barbara Insurance offer plans that you can buy to help cover co-payments and deductibles that otherwise aren’t covered under Medicare.

The Open Enrollment for a Medicare Supplement Policy / Medigap lasts 6 months and begins on the 1st day of the month in which you are both 65+ and enrolled in Medicare Part B. This is the ideal time to purchase your policy for the following reasons:

  1. Insurance companies cannot use Medical underwriting. This means that they cannot refuse to sell you a policy, charge you more, or make you wait to start health coverage because of your health problems. (Though there may be a “pre-existing condition” waiting period of up to 6 months. During that time out of pocket expenses for that condition would not be covered.)
  2. Better Prices, More Choices

If you have any questions about the best time to enroll in Medicare Supplement Insurance, please do not hesitate to contact us and we will be happy to assist you.

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