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What to Ask About Medigap

When you are speaking to insurance representatives about Medigap policies, here are some questions to keep in mind:

  • Am I enrolling while I am in my open enrollment period? If not, do I have a guaranteed issue right?
  • What is the Medigap policy’s monthly premium?
  • Is this premium based on my:
    • Health status
    • Gender
    • Smoking
    • Marital status
      Or anything else?
  • Are the premiums:
    • No-age-rated (community-rated), meaning everyone in my area pays the same premium regardless of their age?
    • Issue-age-rated, meaning the premium is based on how old I was when I bought the policy?
    • Attained-age-rated, meaning the premium increases based on my age?
  • Will the company refuse to sell me a Medigap based on my health status?
  • Does the policy impose a pre-existing condition waiting period?
    • How long is the waiting period before my coverage begins?
    • Do I have prior creditable coverage to reduce my waiting period?

Other considerations

  • If you do not have the right to buy a Medigap, ask the insurance representative how much extra you will be charged for purchasing one.
  • If you are under 65, make sure the company you are considering sells to individuals under 65.
  • Remember to keep track of who you spoke with, when you spoke with them, and the outcome of the call.

© 2020 Medicare Rights Center. Used with permission.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2020 FMG Suite.

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