If you want to sign up for this Supplement plan, you are going to have to meet two qualifications: you need to be 65 years or older, and you need to have an active Original Medicare plan. At age 65, you become eligible for a number of different health insurance benefits and plans that were not previously available to you. Medigap plans, including Plan G, are among them.
Medicare’s basic plan is a prerequisite for Plan G because of how Plan G is designed to supplement or complement it. Plan G only fills in the gaps, while Medicare provides the foundational coverage.
You can apply for Plan G or any other Medigap plan as early as three months before you turn 65. From three months before your birthday until three months after is an enrollment period known as Open Enrollment. That initial eligibility period is when we suggest most seniors try to sign up. If you apply during this time, then the insurance companies cannot deny your application. They have to approve you for the plan that you apply for. They also have to give you the lowest rates and cannot factor in any preexisting medical conditions to raise the rates for you.
There is another time that you can sign up if you wish to wait and not enroll when you are first eligible. This would be the annual enrollment period, and as the name suggests, it is going to be available every year. From October 15th, you can apply for a Medicare Supplement plan, and you will have until December 7th to get your application in. Once you have been approved, you’re going to receive coverage from your plan starting on January 1st. Just bear in mind that enrolling during the annual enrollment period puts you at risk for paying higher prices based on your preexisting medical conditions and how much of a risk the insurance companies think you are. You also run the risk of being denied coverage, but there are some insurance companies that will accept you when others would turn you down.
If you have questions about eligibility and when you can sign up, then please give us a call. We are happy to answer the questions you have and provide you with expert advice on health insurance.