Most people know that the milestone age for Medicare is 65, but that’s about all they know. Enrolling in Medicare is very dependent upon dates, birthdays, and times of the year and if you don’t know when to enroll, you may end up hurt financially.
To receive Medicare Supplement coverage, you must first enroll in Medicare Part A and Medicare Part B. There is a 7 month time span of what’s known as your initial enrollment period. This includes 3 months prior your birthday and 3 after your birthday. The best time to enroll is 1-3 months before you turn 65. This will enable your coverage to begin as soon as you turn 65. If you were to wait four months after you turn 65, your start date for coverage will be delayed. For example, if Judy turns 65 in July and she enrolls on or before her birthday, her coverage will kick in on August 1st. If she waits until October to enroll, she must wait until January 1st to receive Medicare benefits.
Once you enroll in Medicare Part A and B, you have the green flag to purchase Medigap Insurance. After initial enrollment you have 6 months to choose any Medicare Supplement Insurance Plan a company has to offer. During this time, you cannot be denied coverage because of a pre-existing health condition. This is also a good time to feel a Medicare Supplement policy out, because you have the freedom to cancel it and buy a different plan if you’d like.
To get more information about Medicare Supplement Insurance plans, talk to one of our Medigap plan representatives today or use our instant quote below.