Medicare Supplements and Guaranteed Issue

Federally mandated guaranteed issue periods allow people to enroll in Medicare supplement plans without being denied coverage.

If health problems exist and an individual has been unable to get Medicare supplement plans, there is hope in the form of guaranteed issue periods. These periods are federally mandated by the Centers for Medicare and Medicaid Services and apply to “all” Medicare enrollees. What this specifically means is that the guaranteed issue period lets people apply for a plan without being denied coverage, charging more for any health condition, and excluding any pre-existing conditions.

As a stand-alone product, Medicare pays for roughly 80% of most covered services. This would mean an individual or family would then be responsible for the other 20% of the expenses that are not covered. While this 20% might not sound like much, it definitely adds up if the hospital bill is for things like strokes, heart attacks or cancer. Basically any major medical event will run the meter up and leave many people in a desperate situation financially. For seniors on a limited budget, this is not good news. This is why seniors need to be supplementing Medicare with Medicare supplements. It’s essential.

One reason why it is essential for those over 65 to supplement their Medicare is the fact that anyone needing health insurance needs to consider the monthly premium rate. The coverage itself is standardized, so that means what someone pays for it is critical. Shopping around for better rates makes sense and in the meantime if the insurance company that sold the Medicare supplement plans goes under, those left in the dust are allowed to sign up for a new plan under the guaranteed issue period.

Consider any value added benefits and other possible discounts when sourcing Medicare health insurance. Not a lot of people realize that some insurance outfits offer additional benefits as an attractive value-added part of their plan. If a company offers something worthwhile and it would be used, then it might be the place to buy Medicare insurance.

Take into consideration that waiting might not be a smart idea when it comes to getting Medicare supplements simply because a person might not be able to qualify for it later. Private companies have control over who they accept onto their plans and while some have more lenient underwriting guidelines, they may deny coverage.

The bottom line is shop around, ask questions and read the fine print in any policy purchased. It only makes good sense to know what the policy covers and does not cover.

To learn more about MedicareMedicare supplements, or Medicare supplement insurance visit

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