Misconception #4: The best time to buy a Medigap policy (supplement) is during your six-month Medigap Open Enrollment Period.
FALSE — technically, that is. Let me explain.
Yes, your time limit for purchasing a Medicare supplement without underwriting (asking medical questions and considering pre-existing conditions) is up to six months following your birthday.
However, you don’t want to wait until your birthday month to select a supplement/Medigap Policy. You and your agent need to shop for your supplement about the same time you begin the Medicare process, two to three months before your birthday month. This will give your agent time to shop for the best plan and price, complete and submit your application, then provide time for the insurance company to process and issue your policy.
Your supplement plan will take effect the first day of your birthday month, just like Medicare, if you do as suggested.
It’s best to be prepared.Contact me today! to start your process and stay ahead of the game!