Medicare Supplement Plans - Why To Buy When 65

Turning 65 and enrolling in Medicare for the first time can be a daunting experience

. Your mailbox fills up with hundreds of applications and other various sales literature from every insurance company in the entire world. Agents call day and night trying to earn your business, and every one of your friends and family seems to have a different opinion about which plan is best. All of this stress is enough to make a grown man cry, or at least wait until all the commotion dies down before buying a Medicare Supplement Plan.

Every person in the United States is entitled to a guaranteed issue period that begins on the first day of the month in which they are BOTH 65 years old AND enrolled in Medicare Part B. The guaranteed issue period can be different lengths depending on your situation. For example, people who are turning 65 for the first time have six months to find a plan, which is very useful considering these people get bombarded with information for months. However, people who are at least 65 and are leaving an employer plan often have only 63 days to enroll in a Medicare Supplement Plan with guaranteed issue.

Your guaranteed issue period is extremely important, especially if you have any pre-existing health conditions because during this time you can enroll in any plan with any company without answering any health questions or taking any medical exams. This means it is incredibly important to make a wise decision when buying a Medicare supplement plan in your guaranteed issue period because it might be your only opportunity to purchase the plan of your choice. Buying the best Medicare Supplement means getting educated about all companies and types of plans offered in your area, and asking the opinion of people you know and trust.

Waiting to purchase a Medicare Supplement Plan until after your guaranteed issue period can lead to financial disaster if you are in bad health. Medicare Supplement Plans cover the gaps between what original Medicare pays and what the doctors and hospitals actually charge, and waiting to enroll means that you can get caught paying these costs, which over time can accumulate to be a huge dollar amount. To make matters worse, if you wait to purchase a plan until after your guaranteed issue period you may not be accepted into any plans, and will be forced to foot a portion of the bill for the rest of your life!

Medicare Supplement Plans provide great coverage and it is wise to purchase a plan well before your Medicare Part B effective date to ensure you are covered the day your Medicare begins. Most experts agree that purchasing a plan one to two months before you are eligible for Medicare is best. This provides ample time for your application to be processed and for you to receive your cards in time for your coverage to begin.

Shopping for Medicare Supplement Plans can be difficult, and it is wise to consult an insurance broker who carries multiple companies and plans before making any purchasing decisions. A knowledgeable agent can provide honest advice and will point you in the right direction. Most people who try to do everything on their own end up spending too much money and sometimes get worse coverage. Remember, it doesnt cost anything to talk to an insurance broker, and their knowledge can be priceless.

by: Tyra Phillips

POST COMMENT

Farewell Medicare Advantage, Hello Medicare Supplement Plans Buy International Calls Right Calling Plans For Longer Talks Activity Table Plans - Time Saving Tip ! Medicare Supplement Plans Four Rules For Turning 65 Medicare Supplement Plans How To Buy The Best! Medicare Supplement Plan F The King Of Plans Dell plans to launch next year a lot of Tablet PC Easy Chicken Coop Plans For An Easy Chicken Coop Pergola Plans My Shed Plans Elite Rapidshare Easy Chicken Coop Plans - Chicken Kit Free Power Blueprint Plans Best Medicare Supplement Plans for the Elderly